RLJ Lodging Trust exchanges FelCor convertible preferreds on merger

By Tali Rackner

Minneapolis, Sept. 1 – RLJ Lodging Trust converted all convertible preferred shares of FelCor Lodging Trust Inc. upon the completion of the two companies’ merger, according to an 8-K filing with the Securities and Exchange Commission.

Each issued and outstanding share of $1.95 series A cumulative convertible preferred stock was converted into the right to receive one series A preferred share, which has the same rights, preferences, privileges and voting powers as those of the FelCor series A preferred stock.

The company issued about 12,879,475 series A preferred shares to former FelCor common and preferred stockholders and former FelCor LP limited partners as consideration in the mergers.

RLJ and FelCor are real estate investment trusts based in Bethesda, Md., and Irving, Texas, respectively, which own hotels.

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