Secondary offering for Ashford spinoff

|About: Ashford Hospitality Prim... (AHP)|By:, SA News Editor

Ashford Hospitality Prime (AHP) will offer 8M shares with underwriters granted a greenshoe option of 1.2M. The proceeds will be used for the purchase of the Sofitel Chicago Water Tower and the Pier House Resort, along with general corporate purposes.

AHP was spun out of Ashford Trust (AHT) in November of last year.