NEWTON, Mass., Jun 17, 2009 (BUSINESS WIRE) — Hospitality Properties Trust (NYSE: HPT) today announced that it has commenced a proposed public offering of 15,000,000 common shares. HPT expects to use the net proceeds to repay debt and for general business purposes. It is contemplated that the underwriters will also be granted a 30-day option to purchase up to an additional 2,250,000 shares to cover over allotments, if any.
Morgan Stanley, Citi and Wachovia Securities are the bookrunning managers for this offering.
This press release is not an offer to sell, nor a solicitation of an offer to buy, shares, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The preliminary prospectus supplement relating to this offering and related prospectus is expected to be filed with the SEC and a copy can be obtained from the offices of Morgan Stanley & Co. Incorporated, 180 Varick St., 2nd Floor, New York, New York, Attention: Prospectus Department or by email at [email protected], from the offices of Citi, Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone (800) 831-9146, or from the offices of Wachovia Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, at (800) 326-5897 or email to [email protected].