Sunstone Hotel Investors and Selling Stockholders Price Offering of 6,700,000 Common Shares
NEW YORK, NY, September 15, 2005. Sunstone Hotel Investors, Inc. announced today that it has priced a follow-on offering of 6,700,000 shares of common stock at $24.34 per share. The offering consists of 5,993,554 primary shares and 706,446 secondary shares being sold by affiliates of Westbrook Partners, LLC. The underwriters have been granted a 30-day option to purchase up to an additional 1,005,000 shares from the company to cover overallotments, if any.
The joint book running managers for this offering are Citigroup Global Markets Inc. and Merrill Lynch & Co.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.
Copies of the final prospectus may be obtained from the offices of Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080 (tel: 212-449-1000), or from the offices of Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (tel: 718-765-6732; fax: 718-765-6734).
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