CHICAGO, Jan. 31 - Strategic Hotel Capital, Inc. (NYSE: SLH), which operates as Strategic Hotels & Resorts, today announced the closing of its previously announced underwritten public offering of common stock. A total of 18,027,513 shares were sold at a price of $20.00 per share. The Company sold 7,500,000 shares and stockholders affiliated or associated with Prudential Financial, Inc. and Whitehall Street Real Estate Limited Partnerships VII and IX sold 10,527,513 shares. Net proceeds to the Company, after underwriting discounts but before expenses, totaled approximately $142.9 million.
The offering was made through an underwriting syndicate led by Deutsche Bank Securities Inc. and Wachovia Capital Markets, LLC with Goldman, Sachs & Co. as underwriter.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. Copies of the prospectus supplement and the accompanying prospectuses may be obtained from the offices of Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attention: Syndicate Department, from the offices of Wachovia Capital Markets, LLC, 375 Park Avenue, New York, NY 10152, Attention: Syndicate Department or from the offices of any of the other managing underwriters identified above.
About the Company
Strategic Hotel Capital, Inc. also operates under the name Strategic Hotels & Resorts and is a real estate investment trust, which owns and asset manages high-end hotels and resorts. The Company has ownership interests in 17 properties with an aggregate of 8,269 rooms.
