Ashford Hospitality Trust, a real estate investment trust based in Dallas, has priced its initial public offering of 22.5 million shares of common stock at $9 per share.The proceeds of $202.5 million will be used to fund the acquisition or origination of lodging-related assets, to repay mortgage indebtedness on some of the REIT's initial properties, and for general corporate purposes, Ashford said. Friedman, Ramsey & Co. was the sole book-running manager of the IPO, and Legg Mason Wood Walker and Credit Lyonnais Securities (USA) Inc. were co-managers. The underwriters were granted a 30-day option to buy up to 3.375 million additional shares to cover any overallotments. The REIT can be found online at http://www.ahtreit.com.
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