| Proposed Ticker: | LDGE | 889 Lake Boulevard, Suite 100 | |
| Exchange: | NASDAQ-National Market | Memphis, Tennessee 38120 | |
| Industry: | Financial | (901) 767-5154 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 10/24/96 | |
| U.S. Shares Filed: | 7,500,000 | Filing Price: | $10.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $75,000,000 | |
| Primary Shares: | 7,500,000 | Expenses: | $500,000 | |
| Secondary Shares: | 0 | Shs Out After: | 7,500,000 | |
| Manager | Tier | Phone |
| Morgan Keegan & Company, Incorporated | Lead Manager | (901) 524-4100 |
| Montgomery Securities | Co-manager | (415) 627-2220 |
| Raymond James & Associates, Inc. | Co-manager | (813) 573-8108 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/96 | 10/21/96 | ||||
| Revenue: | $0.36 | Assets: | $0.00 | ||
| Net Income: | -$0.22 | Liabilities: | $0.00 | ||
| EPS: | -$0.03 | Equity: | $0.00 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a newly-organized equity real estate investment trust formed to take advantage of significant opportunities to develop and own mid-price extended stay hotels. The company believes that the extended stay segment of the lodging industry offers a number of attractive investment characteristics compared to traditional hotels, including 1) demand which compares favorable to purpose-built supply, particularly in the mid-price segment, 2) potentially favorable operating margins, and 3) a potentially more attractive return on investment. The Common Shares offered to the public in the Offering and to RFS Partnership and Marriott in the Concurrent Offering and to RFS Partnership and Marriott in the Concurrent Offering will represent all the Common Shares outstanding following completion of the Offering and the Concurrent Offering. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund the acquisition of the Initial Hotel, the acquisition of sites for the development of the Development Hotels, the acquisition and development of additional mid-price extended stay hotel properties, franchise application fees and for working capital. |
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