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PHILADELPHIA-Hersha Hospitality Trust prices a public offeringof 2.4 million shares of its 8% series A cumulative redeemablepreferred shares at a liquidation preference of $25 a share. Thisis 400,000 more shares than were initially indicated in the locallybased hospitality REIT's SEC filing, which CFO Ashish Parikhconfirmed to GlobeSt.com at the time. For additional information,clickhere.

As a result, Hersha now expects net proceeds of a little morethan $57.9 million, less its expenses, versus the initial$50-million raise in equity Parikh said the company was targeting.Portions of the proceeds will help to fund Mystic Partners, ajoint-venture being formed between Hersha and Waterford, CT-basedWaterford Hospitality Group to own a $250-million, nine-propertyhotel portfolio previously owned by Waterford.