- Red Lion Hotels Corporation (NYSE:RLH) announced the pricing of its previously announced underwritten public offering of 2.25M shares of its common stock at $8.00 per share.
- The company granted the underwriters a 30-day option to purchase up to an additional 249,999 shares of its common stock to cover over-allotments, if any.
- The company expects to close the offering on or about December 20, 2016.
- Net proceeds of $16.9M will be utilised for general corporate purposes, which may include pursuing acquisitions and supporting its working capital needs, although no specific acquisitions are currently contemplated.
- Joint book-running managers - Craig-Hallum Capital Group LLC and B. Riley & Co., LLC.
- Press Release