Orient-Express Hotels raises $138 million in gross proceeds from offering of 12 million shares

NEW YORK (AP) — Orient-Express Hotels Ltd. said Tuesday that it raised gross proceeds of $138 million from a public offering of 12 million shares of its Class A stock.

Net proceeds total about $131 million after underwriting discounts and estimated offering expenses, the Bermuda-based hotel owner and manager said.

The underwriters fully exercised their overallotment option, buying an additional 1.8 million shares. In total, 13.8 million shares were sold at $10 a piece