Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the debt and equity markets, click here.)

BETHESDA, MD-DiamondRock Hospitality has priced its follow-on offering of 16.8 million shares of common stock at $13 per share for a total of approximately $218.4 million. Further terms of the offering allow underwriters the opportunity to acquire as many as 2.52 million shares.

DiamondRock, which just acquired the 1,192-room Chicago Marriott, owns 16 hotels accounting for 7,311 rooms in 10 states and the US Virgin Islands. The firm filed a registration statement with the SEC on March 8 to sell 14 million shares of its common stock.

Merrill Lynch & Co., Friedman, Billings, Ramsey & Co. and Wachovia Securities served as the joint book-running managers. Citigroup Global Markets Inc., JMP Securities and Robert W. Baird & Co. co-managed the offering, which is scheduled to close on April 4.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.