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Chatham Lodging Trust (NYSE:CLDT), a newly formed REIT focused on upscale extended-stay and select-service hotels, plans to raise $150 million by offering 7.5 million shares at a price of $20 per share. At the mid-point of the proposed range, Chatham will command a market value of $166 million. Chatham Lodging Trust, which was founded in 2009, booked $22 million in sales last year. The Palm Beach, FL-based company plans to list on the NYSE under the symbol CLDT. Barclays Capital and FBR Capital Markets are the lead underwriters on the deal.

Last week, there were 2 IPO pricings. Tengion (TNGN), which is developing functional neo-organs using a patient's own cells, remained flat in its debut, while Metals USA (NYSE:MUSA), the ninth largest metals distributor in the US, saw its stock fall almost -9%.

Source: Expecting 1 IPO This Week