06:11 AM EDT, 04/01/2026 (MT Newswires) -- Service Properties Trust ( SVC ) said late Tuesday it priced a public offering of 416.7 million common shares at $1.20 apiece for about $500 million in expected gross proceeds.

Underwriters have a 30-day overallotment option to purchase up to 62.5 million additional shares.

The company expects the offering to close by Thursday and plans to use the net proceeds to help redeem certain outstanding debt.

Service Properties ( SVC ) shares were down 10% in premarket activity Wednesday.