Day: April 24, 2017

Baltimore-based architectural company files to raise over $600,000

BALTIMORE, MD — A Maryland-based architecture firm filed to raise over $600,000 in equity, according to a filing with the Securities and Exchange Commission.images

Baltimore-based Hord Coplan Macht filed a form D signed by Edward Hord, Lee Coplan, Carol Macht, Christoher Harvey, Jim Albert, Christopher Schein, Monica Robertson, Wirt Winebrenner, James Pedler, Adele WIillson and Jennifer Cordes on April 24.

Hord Coplan Macht is an architecture, landscape architecture, planning and interior design firm that focuses in environmental sensitivity. According to the website, 60 percent of its staff has LEED accreditations. The company specializes in multifamily, health care and education.

The company, formed in 1977, has three offices in Baltimore, Denver and Washington and employs over 230 people in the U.S.

The total filing says the firm seeks to raise $614,522. This is a new notice with the first date of sale yet to occur as the company has not sold anything yet.

This offer is not being made in connection with a business combination transaction and the minimum investment accepted from any outside investor is $11,529.

None of the money raised will be used for payment to executive directors other than the payments of the salary in the ordinary course of business to certain of the parties listed on the filing.

The company claimed a Rule 506 (b) exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

 This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

RLJ Lodging deal creates third largest REIT by enterprise value

BETHESDA, MD – RLJ Lodging Trust announced Monday that it has agreed to acquire FelCor Lodging Trust Inc. in a $1.2 billion all-stock transition.Screen Shot 2017-04-24 at 10.26.48 AM

Post-merger, RLJ is expected to have a total value of $7 billion, creating the largest public REIT by enterprise value. The combined company will have ownership in 160 hotels.

The deal will give RLJ significant growth in highly desirable markets and will broaden geographic and brand diversity.

“Merging with FelCor expands our geographic footprint in highly-desirable markets on the West Cost, while strengthening our presence in other coastal markets in the East and South,” said RLJ’s President and CEO Ross H. Bierkan.

RLJ, which is based in Bethesda, Maryland, said it expects to achieve cost savings of approximately $22 million by combining the two company’s operations.

RLJ’s shares opened Monday morning at $23.49, down 5.7 percent from Friday’s close, and FelCor’s shares opened at $7.85, up 7.24 percent from Friday’s close.

The filing can be found here.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

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