Public Equity Value definition
Public Equity Value means the equity value of the shares of the Common Shares issued by the Company to the investors in the Public Offering, calculated by multiplying the number of Common Shares issued in the Public Offering (excluding any Common Shares issued upon exercise of the underwriters’ overallotment option) by the Public Offering Price.
Public Equity Value means the estimated equity value of the New REIT Shares issued by New REIT to the investors in the IPO (excluding any New REIT Shares issued or issuable under awards made by New REIT at the time of the IPO pursuant to New REIT’s equity incentive plan and any New REIT Shares issued to equity holders in the RLJ Entities as consideration in the Consolidation Transactions and before taking into account any expenses of the IPO or the Consolidation Transactions), as estimated by New REIT in consultation with the investment banking firms managing the IPO shortly prior to commencing marketing activities relating to the IPO.