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Red Lion Hotels files registration statement for share sale by HNA

An affiliate of China's HNA Group Co. Ltd. is proceeding with its plan to sell up to 3,738,401 common shares of Red Lion Hotels Corp., or about 15.4% of the hotelier's outstanding common shares, as of May 18.

Red Lion filed a registration statement with the SEC for the shares following a notice submitted by HNA RLH Investments LLC, noting that it will not receive any proceeds from the sale.

The proposed maximum offering price per share is $10.40, or about $38.9 million in the aggregate, estimated solely to calculate the registration fee.