DiamondRock Announces Initial Public Offering of Common Stock
May 26 2005 - 11:17AM
PR Newswire (US)
DiamondRock Announces Initial Public Offering of Common Stock
BETHESDA, Md., May 26 /PRNewswire-FirstCall/ -- DiamondRock
Hospitality Company ("DiamondRock") (NYSE:DRH) today announced the
pricing of the initial public offering of 26,087,000 shares of its
common stock at a price of $10.50 per share, including 1,428,571
shares sold directly to Marriott International Inc. (NYSE:MAR).
DiamondRock has granted the underwriters of the offering an option
to purchase up to 3,698,764 additional shares of its common stock
to cover over-allotments, if any. The offering is expected to close
on June 1, 2005. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040708/DCTH028 ) Citigroup
Global Markets Inc. and Friedman, Billings, Ramsey & Co., Inc.
are acting as joint book running managers in the offering, with
Banc of America Securities LLC, Wachovia Capital Markets, LLC and
JMP Securities LLC acting as co-managers. Copies of the final
prospectus relating to the offering may be obtained from the
prospectus department of Citigroup Global Markets Inc., Brooklyn
Army Terminal, 140 58th Street, Brooklyn, New York 11220 or from
Friedman, Billings, Ramsey & Co., 1001 Nineteenth Street North,
Arlington, Virginia 22209. About DiamondRock Hospitality Company
DiamondRock Hospitality Company is a self-advised real estate
company that owns, acquires and invests in upper upscale and
upscale properties located primarily in North America. To a lesser
extent, we may invest, on a selective basis, in premium
limited-service and extended-stay hotel properties in urban
locations. http://www.newscom.com/cgi-bin/prnh/20040708/DCTH028
http://photoarchive.ap.org/ DATASOURCE: DiamondRock Hospitality
Company CONTACT: Mark Brugger of DiamondRock Hospitality Company,
+1-301-380-7100, or Web site:
http://www.diamondrockhospitality.com/
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