Sunstone Stock Offering Raises $40 Million
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SAN CLEMENTE — Sunstone Hotel Investors Inc. raised $40 million Wednesday with a secondary offering of 4 million shares at $10 per share. The San Clemente-based holding company, which owns 20 hotels, said it intends to use proceeds of the offering to acquire additional properties. The company’s stock closed unchanged Wednesday at $10 a share on the New York Stock Exchange.
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