RLJ Lodging Trust Closes $327.6M Offering
BETHESDA, Md.--(BUSINESS WIRE)--RLJ Lodging Trust (NYSE: RLJ) announced the completion of its underwritten public offering of 15,870,000 common shares of beneficial interest at a public offering price of $21.60 per share. The total shares sold include 2,070,000 shares sold pursuant to the full exercise of the underwriters' option to purchase additional common shares. Net proceeds from the public offering after deducting the underwriting discount and other estimated offering costs are approximately $327.6 million.
“Management's Discussion and Analysis of Financial Condition and Results of Operations”
The Company intends to use the net proceeds from the offering to fund potential acquisitions and for general corporate purposes, and may use net proceeds to repay amounts outstanding from time to time under its unsecured revolving credit facility.