SAN CLEMENTE, Calif. (AFX) - Sunstone Hotel Investors Inc., a real estate investment trust, said Wednesday 4 million shares of its common stock will be sold under a forward sale agreement with a Citigroup Global Markets affiliate.
The offering will be made under an existing shelf registration statement with the Securities and Exchange Commission.
Sunstone will not receive any proceeds from the sale of the stock in the public offering, but will get about $111 million when the forward sale agreement is settled.
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