Summit Hotel Properties, Inc. (NYSE: INN), a publicly traded real estate investment trust, has entered into an equity distribution agreement providing for the offer and sale of shares of the company’s common stock, par value US$0.01 per share, having an aggregate gross sales price of up to US$200 million. Sales of shares of the company’s common stock, if any, made through the managers, as the company’s sales agents or, if applicable, as forward sellers pursuant to the equity distribution agreement, may be made in sales deemed to be at-the-market offerings.
Latham & Watkins LLP represents Summit Hotel Properties in the transaction with a corporate team led by Austin partner Mollie Duckworth, and Chicago partners Jonathan Sarna and Cathy Birkeland, with associates Rachel Collier and William Brown. Advice was also provided on equity derivative matters by New York partner Reza Mojtabaee-Zamani, with associate Daniel Weiss; and on tax matters by Los Angeles partners Pardis Zomorodi and Ana O’Brien, with associate Daniel Mousseri.
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