Corporate ActionAug 11, 2026, 06:07 AM
Sunstone Hotel Investors Launches New $300M ATM Offering
AI Summary
Sunstone Hotel Investors, Inc. has entered into a new equity distribution agreement to offer and sell shares of its common stock with an aggregate sale price of up to $300,000,000. This program allows for at-the-market offerings and forward sale agreements through various agents and forward purchasers. Concurrently, the company terminated a previous at-the-market program that still had $300,000,000 in unsold shares. The net proceeds from this offering will be contributed to the Operating Partnership in exchange for additional membership units.
Key Highlights
- Sunstone Hotel Investors entered a new equity distribution agreement for up to $300,000,000.
- The agreement allows for the issuance and sale of common stock through sales agents and forward sale agreements.
- Multiple sales agents and forward sellers/purchasers are involved in the program.
- The company simultaneously terminated a prior at-the-market offering program with $300,000,000 unsold.
- Net proceeds will be contributed to the Operating Partnership for additional membership units.
- Agents will receive a commission not exceeding 2.0% of the gross sales price.
Price Impact
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