Chesapeake Lodging Trust Completes Public Offering of Common Shares
Through the offering, the Trust raised approximately $165.8 million of net proceeds, after deducting the underwriting discount and other estimated offering costs
February 8, 2013 - Chesapeake Lodging Trust (NYSE: CHSP) announced that it has completed its public offering of 8,337,500 common shares, including 1,087,500 shares sold pursuant to the full exercise by the underwriters of their option to purchase additional shares. Through the offering, the Trust raised approximately $165.8 million of net proceeds, after deducting the underwriting discount and other estimated offering costs.
J.P. Morgan, Deutsche Bank Securities, Wells Fargo Securities and RBC Capital Markets acted as joint book-running managers for the offering. Baird, KeyBanc Capital Markets, and JMP Securities acted as co-managers for the offering.
The Trust intends to use the net proceeds of the offering to repay outstanding borrowings under its revolving credit facility, invest in future acquisitions of hotels, and for general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Copies of the prospectus supplement and the related prospectus for the offering may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling 1-866-803-9204; Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling 1-800-503-4611, or by emailing [email protected]; Wells Fargo Securities, LLC, Attention: Equity Syndicate Dept., 375 Park Avenue, New York, New York 10152, or by calling (800) 326-5897, or by e-mail at [email protected]; or RBC Capital Markets, LLC, Attention: Equity Syndicate, Three World Financial Center, 200 Vesey Street, 8th floor, New York, New York 10281-8098, or by calling (877) 822-4089.
ABOUT CHESAPEAKE LODGING TRUST
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 15 hotels with an aggregate of 4,722 rooms in seven states and the District of Columbia.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
