La Quinta Completes $460 Million Secondary Offering
12.01.14
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The Firm represented La Quinta Holdings Inc. in connection with a $460 million secondary offering, consisting of 23,000,000 shares of common stock (including 3,000,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares) at a public offering price of $20.00 per share.
La Quinta is a leading owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale segments. The company’s owned and franchised portfolio consists of more than 854 hotels, representing approximately 85,500 rooms located in 47 states, as well as in Canada and Mexico.
The Simpson Thacher team included Michael Nathan, Lia Toback and Matt Gabbard (Capital Markets); John Hart and Taylor Alexander (Tax); Timothy Mulvihill (Environmental); David Rubinsky, Jeannine McSweeney and Eric Wolf (Executive Compensation and Employee Benefits); Amanda Weiss (Public Company Advisory Practice); and Jonathan Karen and Julianna Manzi (Funds). Joe Tringali, Frank Kwok, Jennifer Nadborny and James Rapp also provided invaluable assistance.