Strategic Hotels & Resorts redeems all 8.25% series B preferreds

By Marisa Wong

Madison, Wis., Jan. 5 – Strategic Hotels & Resorts, Inc. redeemed all 3,615,375 outstanding shares of its 8.25% series B cumulative redeemable preferred stock on Jan. 5, according to an 8-K filing with the Securities and Exchange Commission.

The preferreds were redeemed at $25.00 per share plus accrued dividends from Jan. 1 up to and including the redemption date in the amount of $0.028646 per share.

The total redemption price of $90,487,940.43 was paid from a portion of the proceeds from the company’s recent underwritten public offering of common stock.

The real estate investment trust owns and manages high-end hotels and resorts and is based in Chicago.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.