Sunstone Hotel Investors, Inc. (NYSE: SHO - News; the "Company") announced the pricing of its public offering of 18,000,000 shares of its common stock at a price per share of $5.00. The underwriters have been granted a 30-day option to purchase up to an additional 2,700,000 shares of common stock to cover over-allotments, if any.
The joint book runners for this offering are Citi, J.P. Morgan and Merrill Lynch & Co. Deutsche Bank Securities is acting as senior co-manager and Calyon Securities (USA) Inc. and FBR Capital Markets & Co. are acting as co-managers.
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