NORFOLK, NE--(Marketwired - Sep 12, 2013) - Supertel Hospitality, Inc. (
The Company intends to use the net proceeds from the proposed offering to fund the cash portion of the purchase prices of eight premium-branded select service hotels and the anticipated redemption of the Company's Series A and Series B preferred stock. The remainder of the net proceeds will be used for general corporate purposes.
Robert W. Baird & Co. Incorporated, Stifel, Nicolaus & Company, Incorporated and Oppenheimer & Co. Inc. are serving as joint book-running managers for the proposed offering. BB&T Capital Markets, a division of BB&T Securities, LLC, Janney Montgomery Scott LLC, JMP Securities LLC and Ladenburg Thalmann & Co. Inc. are serving as co-managers for the proposed offering.
The proposed offering will be made only by means of a prospectus filed as part of an effective registration statement filed with the Securities and Exchange Commission on Form S-11.
Copies of the prospectus relating to the proposed offering, when available, may be obtained from Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, or by calling (800) 792-2473, or by email at email@example.com; Stifel, Nicolaus & Company, Incorporated, Attn: Syndicate Department, One South Street, 15th Floor, Baltimore, MD 21202, or by calling (443) 224-1988; Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by calling (212) 667-8563, or by email at firstname.lastname@example.org.
This press release 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Supertel Hospitality, Inc.
Supertel Hospitality, Inc. (
Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the Company's filings with the Securities and Exchange Commission. In particular, there can be no assurances that the offering of common stock will be consummated.