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TravelCenters Of America Announces Public Offering Of $75M Of Common Stock

WESTLAKE, Ohio--(BUSINESS WIRE)-- TravelCenters of America Inc. (NASDAQ:TA) today announced that it has commenced a public offering of $75 million of shares of its common stock. TA intends to use the net proceeds from

Benzinga · -

WESTLAKE, Ohio--(BUSINESS WIRE)-- TravelCenters of America Inc. (NASDAQ:TA) today announced that it has commenced a public offering of $75 million of shares of its common stock. TA intends to use the net proceeds from the offering to fund deferred maintenance and other capital expenditures necessary to enhance property conditions and implement growth initiatives, for working capital, and for general corporate purposes. TA also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock in an amount of up to 15 percent of the number of shares sold in the offering.

The joint book-running managers for the offering are Citigroup, BMO Capital Markets, B. Riley FBR and BTIG.

A registration statement on Form S-3, as amended by post-effective amendment no.1 thereto, relating to the securities being sold in the offering has been filed with the Securities and Exchange Commission (the “SEC”) but has not yet been declared effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement, as amended by post-effective amendment no.1 thereto, becomes effective.

This press release is neither an offer to sell nor a solicitation of an offer to buy TA’s common stock, 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. Before you invest, you should read the prospectus in the registration statement and related preliminary prospectus supplement that TA expects to file with the SEC for more complete information about TA and this offering. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering can be obtained, when available, by contacting the offices of: Citigroup Global Markets Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling toll-free telephone (800) 831-9146, or by email at prospectus@citi.com; BMO Capital Markets Corp. at Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036; B. Riley FBR, Inc. at Attention: Syndicate Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, VA 22209, or by calling (703) 312-9580, or by email at prospectuses@brileyfbr.com; or BTIG, LLC at 65 East 55th Street, New York, NY 10022, or by email at equitycapitalmarkets@btig.com.