Bristol Hotel Company announces public stock offering.DALLAS--(BUSINESS WIRE)--April 28, 1997--Bristol Hotel Company (NYSE NYSE See: New York Stock Exchange :BH) announced today that it is commencing an offering of up to 2.875 million new shares of common stock of the company. The offering is being made pursuant to a $500 million shelf registration statement that was previously filed with the Securities Exchange Commission, and became effective on April 22. The offering will be made through an underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. group led by Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. The company expects to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the offering for general corporate purposes, including to fund hotel redevelopment costs and acquisitions. Bristol Hotel Company, based in Dallas, owns and operates 38 hotels in seven states. The company expects to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... a transaction later today in which it will acquire 60 company-managed Holiday Inn hotels from Bass Plc of the United Kingdom which will give the company a total 99 primarily full-service hotels in 22 states and Canada, totaling more than 28,000 rooms. -0- NOTE TO EDITORS: This communication shall not constitute an offer to sell nor 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 the Common Stock in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. CONTACT: Bristol Hotel Company, Dallas Helen Leflar, 972/391-3535 |
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