Red Lion Hotels Corp. plans to offer an undisclosed number of shares of common stock, subject to market conditions.
The company plans to use the net proceeds for general corporate purposes, possibly including acquisitions and working capital. The company noted that it does not have any specific acquisitions planned.
The offering will include a 30-day overallotment option.
Craig-Hallum Capital Group LLC and B. Riley & Co. LLC are joint book-running managers for the offering.