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FelCor Announces Public Offering of Common Stock To Finance An Acquisition
FelCor Announces Public Offering of Common Stock To Finance An Acquisition | dal_ftw_txbz, felcor, Felcor lodging Trust, public offering, Bofa, Merrill Lynch, J.P. Morgan,

Texas Business reports:  Irving—FelCor Lodging Trust Incorporated  announced that it plans to make a public offering of 24 million shares of its common stock.

FelCor expects to grant the underwriters a 30-day option to purchase up to 15 percent additional shares of common stock to cover over-allotments, if any.

BofA Merrill Lynch and J.P. Morgan will act as joint book-running managers for the offering.

FelCor intends to use the net proceeds from the offering for a pending acquisition.

Pending application of the net proceeds, FelCor may use the net proceeds for general corporate purposes and may also invest such net proceeds in short-term, interest bearing investments or to repay borrowings under its line of credit.