Summit Hotel Properties launches USD 200 million at-the-market equity offering program
INN•At-the-market equity offering program
Summit Hotel Properties entered an equity distribution agreement for an at-the-market common stock offering of up to $200 million.
Shares may be sold through sales agents, to managers as principals, or via forward sale arrangements with forward purchasers.
Sales, if any, are expected to occur at prevailing market prices in ordinary brokerage transactions or negotiated deals.
No minimum amount is required to be sold; agents will use commercially reasonable efforts subject to the agreement’s terms.
