(To read more on the debt and equity markets, click here.)
BETHESDA, MD-DiamondRock Hospitality has priced its follow-onoffering of 16.8 million shares of common stock at $13 per sharefor a total of approximately $218.4 million. Further terms of theoffering allow underwriters the opportunity to acquire as many as2.52 million shares.
DiamondRock, which just acquired the 1,192-room ChicagoMarriott, owns 16 hotels accounting for 7,311 rooms in 10 statesand the US Virgin Islands. The firm filed a registration statementwith the SEC on March 8 to sell 14 million shares of its commonstock.
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