Ashford Hospitality Trust Files Registration Statement for Offering of 7.5 Million Shares of Common Stock.Business Editors DALLAS--(BUSINESS WIRE)--April 7, 2004 Ashford Hospitality Trust, Inc. (NYSE NYSE See: New York Stock Exchange : AHT AHT Animal Health Trust (Suffolk, England) AHT American Hairless Terrier (dog breed) AHT After Hours Trading AHT Animal Health Technician AHT Anchor Handling Tug ) today announced it has filed a registration statement on Form S-11 for the public offering of 7,500,000 shares of common stock. Friedman, Billings, Ramsey & Co., Inc. is the lead manager and the sole book-running manager. The underwriters will have a 30-day option to purchase an additional 1,125,000 shares of common stock from the Company to cover over-allotments. The offering proceeds to the Company will be used principally to repay mortgage indebtedness on some of the Company's properties, to fund the acquisition or origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real of lodging-related assets, and for general corporate purposes. Ashford Hospitality Trust is a self-administered real estate investment trust focused on investing in the hospitality industry across all segments and at all levels of the capital structure, including direct hotel investments, first mortgages, mezzanine loans A mezzanine loan is a relatively large loan, typically unsecured (ie., not backed by a pledging of assets) or with a deeply subordinated security structure (e.g., third lien on the property but non-recourse vis-a-vis the borrower). and sale-leaseback transactions. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor shall there be any sale of such common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Friedman, Billings, Ramsey & Co., Inc., 1001 19th Street North, Arlington, Virginia, 22209. |
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