EQUITY INNS ANNOUNCES SHELF REGISTRATION.MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--Nov. 16, 1995--Equity Inns, Inc. (Nasdaq: ENNS) announced that it has filed a shelf registration statement for the issuance and sale of up to $150,000,000 of common stock. The common stock issuable under the registration statement may be offered from time to time in amounts and at prices to be determined at the time of the offering. The Company said it would contribute 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 any common stock issued under the shelf registration to Equity Inns Partnership, L.P., which will use such net proceeds for general partnership purposes, including the repayment of indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. , making improvements to hotel properties and the acquisition of additional hotel properties. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the common stock has been filed with the Securities and Exchange Commission but has not yet become effective. The common stock may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news 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 the 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 such state. Any offering will be made only by a prospectus. Equity Inns, Inc. is a self-advised real estate investment trust headquartered in Memphis, Tennessee For the ancient Egyptian capital, see . Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River. , which currently owns or has under contract 34 hotels with an aggregate of 4,018 rooms in 21 states consisting of 25 Hampton Inns, 3 Residence Inns, 3 Holiday Inns, 2 Comfort Inns, and 1 Holiday Inn Express. CONTACT: Equity Inns., Inc., Memphis Howard A. Silver, 901/761-9651 |
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