Service Properties Trust (SVC) has entered into an underwriting agreement with Yorkville Securities, LLC for a public offering of 416,666,667 common shares at a price of $1.20 per share, expected to generate gross proceeds of approximately $500 million. The offering is set to close on or about April 2, 2026. The company has granted underwriters an option to purchase an additional 62,500,000 shares within 30 days of the agreement. Proceeds from the offering will be utilized to redeem a portion of its outstanding senior notes, including $100 million of 4.95% Senior Notes due 2027 and $370 million of 5.50% Senior Notes due 2027. The company has also amended its Articles of Amendment to increase the number of authorized common shares from 200 million to 900 million, effective March 30, 2026. This strategic move aims to enhance liquidity and financial flexibility, positioning the company for future growth opportunities. The offering is part of the company's ongoing efforts to optimize its capital structure and manage its debt obligations effectively.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.