Sunstone Hotel Investors Prices Public Offering Of 6.125% Series H Cumulative Redeemable Preferred Stock IRVINE, Calif. , May 12, 2021 |PRNewswire| -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO ), the owner of Long-Term Relevant Real Estate® in the hospitality sector, announced that it has priced an underwritten public offering of 4,000,000 shares of its 6.125% Series H Cumulative Redeemable Preferred Stock (the "Series H Preferred Stock") for gross proceeds of $100 million . The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares solely to cover over-allotments, if any. The joint book-running managers for this offering are Wells Fargo Securities, J.P. Morgan and BofA Securities. The joint lead managers for this offering are PNC Capital Markets LLC and US Bancorp. The co-managers for this offering are BBVA Securities, Citigroup and Scotiabank. The offering is expected to close on May 24, 2021 , subject to the satisfaction of customary closing conditions. The Company expects to contribute the net proceeds from this offering to Sunstone Hotel Partnership, LLC, its wholly owned subsidiary (the "Operating Partnership"), in exchange for preferred membership units in the Operating Partnership.