By Connor Hart
Shares of Pebblebrook Hotel Trust slipped after the company said it plans to privately offer $350 million worth of senior notes that are convertible to stock in 2030.
The stock was down 4.8% to $11 in premarket trading Wednesday. Through Tuesday's close, shares have declined 14% over the past year.
The real-estate investment trust, which owns 46 hotels across the U.S., said late Tuesday that it will also allow initial purchasers an option to buy another $50 million worth of notes to cover over-allotments.
It plans to use proceeds from the offerings to repurchase certain of its senior notes due in 2026 through privately negotiated transactions.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
September 17, 2025 06:23 ET (10:23 GMT)
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