Sunstone Hotel Investors, Inc. SHO announced today that it intends to issue shares of Cumulative Redeemable Preferred Stock subject to market conditions, over the near-term.
The Company expects to contribute the net proceeds from the contemplated offering to Sunstone Hotel Partnership, LLC, its wholly owned subsidiar, in exchange for additional membership units in the Operating Partnership. The Operating Partnership will subsequently use those net proceeds primarily for growth capital expenditures, future acquisitions and other general corporate purposes, including working capital.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in