Service Properties Trust Announces Closing of Underwritten Public Offering and Full Exercise of Option
Announces Early Redemption of $100 Million 4.95% Senior Notes Due February 2027 and $450 Million 5.50% Senior Notes Due December 2027
Service Properties Trust (NASDAQ:SVC) today announced the closing of its underwritten public offering of 479.2 million common shares of beneficial interest, including 62.5 million common shares of beneficial interest issued upon the exercise in full by the underwriters of their option to purchase additional common shares, at a public offering price of $1.20 per share, before underwriting discounts and commissions. The net proceeds from the offering were approximately $542.3 million, after payment of the underwriting discount and other estimated offering expenses payable by SVC.
SVC also announced the early redemption, in full, of the $100.0 million principal amount outstanding of its 4.95% senior notes due 2027 and $450.0 million principal amount outstanding of its 5.50% senior notes due 2027, in each case, at a redemption price equal to the redeemed principal amount plus accrued and unpaid interest thereon, to, but not including, the respective redemption dates of May 2, 2026 and April 17, 2026, and the applicable make-whole premium. SVC expects to fund this redemption using the net proceeds from the offering together with cash on hand.
Yorkville Securities acted as lead bookrunner and Jones acted as bookrunning manager for the offering. B. Riley Securities, Oppenheimer & Co., Ladenburg Thalmann and Siebert acted as co-managers for the offering.
The offering was made pursuant to SVC's effective shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"), including the base prospectus therein. A final prospectus supplement was filed with the SEC, and copies may be obtained by contacting Yorkville Securities, LLC at [email protected] or JonesTrading Institutional Services LLC at [email protected] or by visiting the EDGAR database on the SEC's web site at www.sec.gov.
This press release is neither an offer to sell nor a solicitation of an offer to buy common shares, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Service Properties Trust
Service Properties Trust (NASDAQ:SVC) is a real estate investment trust with approximately $10 billion invested in two asset categories: service-focused retail net lease properties and hotels. As of December 31, 2025, SVC owned 760 service-focused retail net lease properties with over 13.6 million square feet throughout the United States. As of December 31, 2025, SVC also owned 94 hotels with over 21,000 guest rooms throughout the United States and in Puerto Rico and Canada. SVC is managed by The RMR Group (NASDAQ:RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of December 31, 2025, and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
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Kevin Barry, Senior Director, Investor Relations
(617) 796-8232