Choice Hotels Announces Pricing of Secondary Offering of 3,000,000 Shares of Common Stock by Selling Stockholders
ROCKVILLE, Md. - March 18, 2014 // PRNewswire // - Choice Hotels International, Inc. (NYSE: CHH) (the "Company") today announced the pricing of the previously announced underwritten secondary offering of 3,000,000 shares of its common stock by certain selling stockholders, including Commonweal Foundation, Inc., a private foundation sponsored by the Bainum family, and certain Bainum and Renschler family entities, at a public offering price of $46.65 per share. None of our officers or directors are selling any of the shares of our common stock beneficially owned by them in the offering. Choice Hotels is not offering any shares of common stock in the offering and will not receive any proceeds from the sale of shares in this offering. The offering is expected to settle and close on March 21, 2014, subject to customary closing conditions. Certain of the selling stockholders have granted the underwriter a 30-day option to purchase up to 450,000 additional shares of the Company's common stock. Deutsche Bank Securities Inc. is acting as the sole underwriter for the offering.
A shelf registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. This offering is being made by the selling stockholders only by means of a prospectus. When available, copies of the final prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, New York 10005, telephone (800) 503-4611 or email at email@example.com. A copy of the final prospectus supplement, when available, may also be obtained for free by visiting EDGAR on the Securities and Exchange Commission website at www.sec.gov.
This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any security, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Choice Hotels International, Inc.
Choice Hotels International, Inc. franchises more than 6,300 hotels, representing more than 500,000 rooms, in the United States and more than 35 other countries and territories. As of December 31, 2013, 422 hotels, representing more than 31,000 rooms, were under construction, awaiting conversion or approved for development in the United States. Additionally, 81 hotels, representing approximately 7,200 rooms, were under construction, awaiting conversion or approved for development in more than 15 other countries and territories. The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands, as well as its Ascend Hotel Collection membership program, serve guests worldwide.
Additional corporate information can be found on the Choice Hotels International, Inc. web site, which may be accessed at www.choicehotels.com.
Choice Hotels, Choice Hotels International, Choice Privileges, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge, Rodeway Inn, Ascend Hotel Collection and SkyTouch Technology are proprietary trademarks and service marks of Choice Hotels International Inc. and its subsidiaries.
(C) 2014 Choice Hotels International, Inc. All rights reserved.
SOURCE Choice Hotels International, Inc.
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Chief Financial Officer & Treasurer