Sunstone Hotel Investors, Inc. Announces Full Exercise of Over-Allotment Option-Selling Stockholders
SOUTHERN CALIFORNIA, June 9, 2005. Sunstone Hotel Investors, Inc. today announced that Citigroup Global Capital Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, on behalf of the underwriters for the previously announced public offering of shares of Sunstone common stock, have exercised in full the underwriters' option to purchase an additional 1,588,800 shares of common stock from the selling stockholders at the public offering price of $23.40 per share to cover over-allotments.
In total, the Company and selling stockholders have agreed to sell 12,180,800 shares of common stock at $23.40 per share in the public offering.
A registration statement relating to these securities has been filed and declared effective by the United States Securities and Exchange Commission. 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 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, 388 Greenwich Street, New York, NY, 10013, Attention: Syndicate Department or from the offices of any of the other managing underwriters identified above.
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