Extended Stay America Prices Secondary Offering of Paired Shares

Extended Stay America share were barely higher pre-market Wednesday after the company said it priced an underwritten secondary offering of 25 million paired shares, each paired share consisting of a share of common stock of Extended Stay America, Inc. and a share of Class B common stock of ESH Hospitality, Inc.

The offering is expected to result in gross proceeds of approximately $438,750,000, and is expected to close on June 5 The company will not sell any paired shares in the offering, and will not receive any proceeds from the offering.

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