Apple Hospitality REIT establishes new $500M ATM equity program, terminates prior facility

Apple Hospitality REIT, Inc.

Entered equity distribution agreement on Feb 23, 2024 to sell up to $500M of common shares at-the-market.
Max commission to agents is 2.0% of gross proceeds; proceeds for general corporate purposes including debt repayment and acquisitions.
Prior ATM program terminated; $5.3M in shares remained unsold under that facility.
Company may use net proceeds to repay $650M revolving credit facility, fund acquisitions, capex, or working capital.

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