LaSalle Hotel underwriters exercise option to buy stock, bringing total proceeds to $109.1M

LaSalle Hotel says underwriters buy stock

BETHESDA, Md. — LaSalle Hotel Properties said Tuesday that the underwriters of a recent public stock offering have exercised an option to acquire an additional 802,500 common shares

That brings the total number of shares to be issued as part of that offering to nearly 6.2 million.

After expenses, the company expects to receive $109.1 million from the sale of its common shares. Proceeds will go to pay down debt.

LaSalle Hotel Properties owns 32 upscale hotels.

Shares of the company closed up 9 cents at $19.20.