The Dallas-based company said it would use proceeds from the $166.5 million offering for general purposes, which could include acquisitions of other lodging concerns, debt reduction and stock buybacks.
They issued stock so would have money for stock buy backs.
Now I know they think we're stupid. Can't you hear that board room. Geez Ralph just whatever you need to say to get it done. Hurry up though, if we don't get that money I wont get my bonus. Get it done before Christmas, I need the money.