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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sat., Oct. 1, 4:38 AM

Slide #3. Extended Stay America, Inc. and ESH Hospitality, Inc. Secondary Offering

Company: Extended Stay America, Inc. and ESH Hospitality, Inc. (NYSE:STAY)
Date announced: 9/29/2016
Shares Offered: 13,000,000
Date of Pricing: 9/29/2016
Price Per Share: $14.25
Secondary Offering Details: Extended Stay America, Inc. and ESH Hospitality, Inc. (NYSE:STAY) (together, the "Company") today announced an underwritten secondary offering (the "offering") of 13,000,000 Paired Shares, each Paired Share consisting of a share of common stock of Extended Stay America, Inc. and a share of Class B common stock of ESH Hospitality, Inc., which are attached and trade together as Paired Shares, by certain selling stockholders affiliated with Centerbridge Partners, L.P., Paulson & Co. Inc. and The Blackstone Group L.P. (the "Selling Stockholders"). -updated 9/29- Extended Stay America, Inc. and ESH Hospitality, Inc. (NYSE:STAY) (together, the "Company") today announced the pricing of the underwritten secondary offering (the "offering") of 13,000,000 Paired Shares, each Paired Share consisting of a share of common stock of Extended Stay America, Inc. and a share of Class B common stock of ESH Hospitality, Inc., which are attached and trade together as Paired Shares. The Paired Shares were offered by certain selling stockholders affiliated with Centerbridge Partners, L.P., Paulson & Co. Inc. and The Blackstone Group L.P. (the "Selling Stockholders") and were sold at a price to the public of $14.25 per share. The offering is expected to close on October 4, 2016, subject to customary closing conditions.

Extended Stay America is an owner/operator of company-branded hotels in North America. Co.'s business operates in the extended stay lodging industry. As of Dec 31 2015, Co. owned and operated 629 hotels comprising approx. 69,400 rooms located in 44 states across the U.S. and in Canada. Co. owns and operates the substantial majority of its hotels under its core brand, Extended Stay America, which serves the mid-price extended stay segment. Extend Stay America-branded hotels feature in-room kitchens, free WiFi, free grab-and-go breakfast, flat screen TVs with premium cable channels; and on-site guest laundry.

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Company Name:  Extended Stay America Inc
Stock buyback:  STAY buyback
Website:  www.extendedstay.com
Sector:  Hotels, Lodging, Restaurants & Travel
Number of ETFs Holding STAY:  17
Total Market Value Held by ETFs:  $20.84M
 

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October 1, 2016    4:38 AM Eastern
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Buy (2.86 out of 4)
39th percentile
(ranked lower than approx. 61% of all stocks covered)
Based on Zacks ABR data;
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