Duane Pfennigwerth

Gregory Miller

Aryeh Klein

Chris Darling

Jay Kornreich

Smedes Rose

Dori Kesten

Michael Bellisario

Ari Klein

Cooper Clark

Daniel Hogan

Floris Gerbrand van Dijkum

Floris van Dijkum

James Feldman

Kenneth Billingsley

Shaun Kelley

- Pebblebrook Hotel Trust priced and closed a private offering of **$400,000,000** aggregate principal amount of its **1.625% Convertible Senior Notes due 2030** on **September 18, 2025**, which included the full exercise of the initial purchasers' over-allotment option.  **[1474098_0001474098-25-000129_a091625convertsex993prclos.htm:1]** 
- The net proceeds from the offering, approximately **$389.7 million**, along with **$4.1 million** of cash on hand, will be used to repurchase approximately **$400.0 million** aggregate principal amount of its outstanding **1.75% Convertible Senior Notes due 2026**.  **[1474098_0001474098-25-000129_a091625convertsex992prpric.htm:0]** **[1474098_0001474098-25-000129_a091625convertsex993prclos.htm:1]** 
- The new Notes mature on **January 15, 2030**, and have an initial conversion rate equivalent to **$15.89 per common share**, representing a **37.5%** conversion premium based on the **$11.56** closing price on September 16, 2025.  **[1474098_0001474098-25-000129_a091625convertsex992prpric.htm:0]** **[1474098_0001474098-25-000129_a091625convertsex993prclos.htm:1]** 
- Concurrently with the pricing of the Notes, the Company entered into privately negotiated capped call transactions with an initial cap price of **$20.23** and repurchased approximately **4.3 million Common Shares** at **$11.56 per share**.  **[1474098_0001474098-25-000129_a091625convertsex993prclos.htm:1]**

Pebblebrook Hotel Trust Prices and Closes $400 Million Convertible Senior Notes Offering

Pebblebrook Hotel Trust (PEB)