SIGNATURE INNS INC/IN
8-K, 1996-12-24
HOTELS & MOTELS
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                        SECURITIES AND EXCHANGE COMMISSION  
                              Washington, D.C. 20549


                           -----------------------------

                                     FORM 8-K

                                  CURRENT REPORT

                        Pursuant to Section 13 and 15(d) of the
                             Securities Exchange Act of 1934
        Date of Report (Date of earliest event reported) December 23, 1996
                                                         -----------------

                                 SIGNATURE INNS, INC.

                (Exact name of Registrant as specified in charter) 
         Indiana                       0-9659               35-1426996  
- -------------------------          ------------       -------------------
(State or other jurisdic-          (Commission           (IRS Employer
 tion of incorporation)            File Number)       Identification No.)

        250 East 96th Street, Suite 450, Indianapolis, Indiana 46240
         ------------------------------------------------------------
        (Address of principal executive offices)             (Zip Code)

     Registrant's telephone number, including area code    (317) 581-1111
                                                            -------------- 

                                      N/A
          --------------------------------------------------------------
           (Former name or former address, if changed since last report.)


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ITEM 5. OTHER EVENTS.

     The Company issued the following as a press release December 23, 1996:



DECEMBER 23, 1996


Signature Inns, Inc. announced today that it has amended its registration
statement under the Securities Act of 1933 with the Securities and Exchange
Commission and that it will now offer 2,000,000 shares of the Company's
cumulative convertible preferred stock, Series A at $20.00 per share.  The
Company anticipates the trading of both the common stock and preferred stock
on the NASDAQ National Market System, under the symbols "SGNS" and "SGNSP,"
respectively.

The Company anticipates that the sale of the preferred stock to the public
will commence in January 1997.  The Company intends to use the proceeds of the
offering to acquire full ownership of all the operating Signature Inn hotels
which are now owned by various partnerships in which the Company is the
general partner.  McDonald & Company Securities, Inc. (Cleveland), J.C.
Bradford & Co. (Nashville) and The Ohio Company (Columbus), are the managing
underwriters for the offering.  Prospectuses relating to the offering may be
obtained from:  McDonald & Co. Securities, Inc., McDonald Investment Center,
800 Superior Avenue, Cleveland, Ohio  44114.

A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective.  These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective.  This letter shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
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                                    Signature


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                        Signature Inns, Inc. (Registrant) 

                                        By: /s/ John D. Bontreger
                                           -----------------------------------
                                            John D. Bontreger, President and
                                            Chief Executive Officer














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