IRVING, Texas, Nov. 17, 2014 /PRNewswire/ -- La Quinta
Holdings Inc. ("La Quinta" or the "Company") announced today that
certain selling stockholders affiliated with The Blackstone Group
L.P. have commenced a secondary offering of 20,000,000 shares of La
Quinta common stock. The underwriters will have a 30-day
option to purchase up to an additional 3,000,000 shares of common
stock from the selling stockholders.
La Quinta is not offering any shares of common stock in the
offering and will not receive any proceeds from the sale of shares
in this offering.
J.P. Morgan and Morgan Stanley are serving as representatives of
the underwriters and joint book-running managers for the offering.
BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank
Securities, Goldman, Sachs & Co. and Wells Fargo Securities are
also acting as joint book-running managers for the offering.
EA Markets, Evercore ISI, JMP Securities, Lebenthal Capital
Markets, Loop Capital Markets, Mischler Financial Group, Inc.,
Ramirez & Co., Inc., Raymond
James, RBC Capital Markets and Stifel are acting as
co-managers for the offering. The offering of these
securities is being made only by means of a prospectus. Copies of
the preliminary prospectus can be obtained from:
J.P. Morgan
Securities
LLC
|
Morgan
Stanley
|
Attention: Broadridge
Financial Solutions
|
Attention: Prospectus
Department
|
1155 Long Island
Avenue
|
180 Varick Street,
2nd Floor
|
Edgewood, New York
11717
|
New York, NY
10014
|
Telephone:
1-866-803-9204
|
|
A registration statement relating to the securities has been
filed with the SEC, but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior
to the time that the registration statement becomes effective. This
press release 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 or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About La Quinta
La Quinta Holdings Inc. (NYSE: LQ) is a leading owner, operator
and franchisor of select-service hotels primarily serving the
upper-midscale and midscale segments. The Company's owned and
franchised portfolio consists of more than 850 La Quinta Inn &
Suites™ and La Quinta Inn™ branded hotels representing
approximately 85,000 rooms located in 47 states, as well as in
Canada and Mexico. La Quinta's team is committed to
providing guests with a refreshing and engaging experience.
Forward-Looking Statements
Certain statements made in this press release may constitute
"forward-looking statements" within the meaning of the federal
securities laws. Forward-looking statements are based on
management's expectations, beliefs, estimates and projections.
These statements are not guarantees of future performance and
involve certain risks and uncertainties, which are difficult to
predict. Therefore, actual results may differ materially from what
is forecast in forward-looking statements due to a variety of
factors. Additional information regarding these factors is
contained in the Company's registration statement on Form S-1 filed
with the Securities and Exchange Commission on October 30, 2014, as amended to date. The Company
disclaims and does not undertake any obligation to update or revise
any forward-looking statement in this press release.
SOURCE La Quinta Holdings Inc.