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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Extended Stay America To Make Initial Public Offering 0 comments
    Jul 22, 2013 11:19 AM | about stocks: BX, GS, JPM, DB

    Originally published at

    Extended Stay America, a U.S. hotel chain that filed bankruptcy less than three years ago, will make an initial public offering, according to a regulatory statement filed by its owners. The company has yet to announce how many shares, what price range, and has not specified the intended offering date. Extended Stay is looking to raise up to $100M, however that could change. Now owned by Blackstone Group (NYSE:BX), Centerbridge Partners, and Paulson & Company, who bought the company for $3.9B in 2010, will use the proceeds from the offering to pay down its debt, which is $3.6B as of March 31. Last year Extended Stay reported $1B in revenues, a 7% increase from the year before. Joint bookrunners to the offering are Goldman Sachs (NYSE:GS), JPMorgan Chase (NYSE:JPM), and Deutsche Bank (NYSE:DB).

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: BX, GS, JPM, DB
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