Ashford Hospitality Trust Prices $80.25 Mln Stock Offering

(RTTNews) - Ashford Hospitality Trust, Inc. (AHT) said Wednesday that it has priced its follow-on public offering of 7.5 million shares of common stock at $10.70 per share.

The company has also granted the underwriters a 30-day option to purchase up to an additional 1.125 million shares of common stock.

Settlement of the offering is expected to occur on April 14.

Ashford Trust plans to use the net proceeds of the offering for general corporate purposes, including, without limitation, hotel-related investments, capital expenditures, working capital and repayment of debt or other obligations.