Corporate ActionAug 7, 2026, 04:33 PM
Summit Hotel Properties Establishes $200M ATM Equity Program
AI Summary
Summit Hotel Properties, Inc. and its operating partnership entered into an equity distribution agreement to establish an At-The-Market (ATM) program. This program allows the company to offer and sell shares of its common stock with an aggregate gross sales price of up to $200,000,000. Sales will be conducted through various managers acting as sales agents or forward sellers, and can be made on the New York Stock Exchange or other trading venues.
Key Highlights
- Summit Hotel Properties established an At-The-Market (ATM) equity distribution program.
- The program allows for the offer and sale of up to $200,000,000 of common stock.
- Sales will be made through various sales agents and forward purchasers.
- Sales can occur as "at-the-market offerings" on the NYSE or other venues.
- Managers will receive a commission not exceeding 2.0% of the gross sales price.
Price Impact
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