Brief: VM Hotel Acquisition Corp. Announces Proposed Acquisition Of Five Premier Hotels For $411 million

VM Hotel Acquisition

07/12/2021 13:56

Dec 7 (Reuters) - VM Hotel Acquisition Corp  VMHu.TO :
    * VM HOTEL ACQUISITION CORP. ANNOUNCES PROPOSED ACQUISITION
OF
FIVE PREMIER HOTELS TO CREATE A GROWTH-ORIENTED REAL ESTATE
OPERATING COMPANY
    * VM HOTEL ACQUISITION CORP - DEAL FOR US$411 MILLION
    * VM HOTEL ACQUISITION - FOLLOWING CLOSING, VMH WILL HAVE
100%
INTEREST IN EACH OF HOTELS OTHER THAN RENAISSANCE, IN WHICH IT
WILL HAVE A 90% INTEREST
    * VM HOTEL ACQUISITION CORP - DEAL TO BE FUNDED THROUGH
COMBINATION OF ABOUT $260 MILLION OF MORTGAGE FINANCING, $20
MILLION RAISED THROUGH VMH SHARES
    * VM HOTEL ACQUISITION CORP - REMAINING PORTION OF DEAL TO
BE
FUNDED THROUGH CASH ON HAND AND PIPE INVESTMENT
    * VM HOTEL ACQUISITION - IN CONNECTION WITH DEAL, LAUNCHED
PRIVATE
PLACEMENT TO RAISE US$145 MILLION THROUGH ISSUANCE OF 14.5
MILLION SUBSCRIPTION RECEIPTS

Source text for Eikon:  ID:nCNWtPypsa 
Further company coverage:  VMHu.TO 

 ((Reuters.Briefs@thomsonreuters.com;))