Seeking Alpha

Secondary offering for Ashford spinoff

  • 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.
  • Press release
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