The secondary offering of 13.0 million paired shares of andESH Hospitality Inc. closed, with no proceeds to the company.
Certain affiliates of Blackstone Group LP, Centerbridge Partners LP and Paulson & Co. Inc. werethe selling stockholders in the offering, which closed Oct. 4 and was priced at$14.25 per share. Each paired share comprises a share of Extended Stay's commonstock and a share of ESH Hospitality's class B common stock.
Extended Stay on the same day closed its share repurchaseprogram, paying roughly $27.6 million to buy back 1,950,000 paired shares fromthe selling stockholders. It funded the share repurchase with cash on hand.
Goldman Sachs & Co. was the underwriter for the offering.