other material
confidence high
sentiment neutral
materiality 0.50
Summit Hotel registers 12.94M shares for resale by selling stockholder underlying OP units
Summit Hotel Properties, Inc.
- Filed prospectus supplement to register up to 12,940,877 shares of common stock underlying OP Units.
- Shares may be sold from time to time by the selling stockholder upon redemption of OP Units.
- Company will not receive any proceeds from the sale of these shares.
- Redemption of OP Units can be settled in cash or, at company's election, in common stock on a one-for-one basis.