DiamondRock Hospitality (NYSE:DRH) prices underwritten public offering of 4.4M shares of its 8.25% Series A preferred stock at $25 per share; underwriters’ over-allotment option is additional 600K shares.

The company intends to use the net proceeds for general corporate purposes, including the repayment of o/s senior unsecured credit facility.

Offer is expected to close on Aug. 31.


Source link