logo
Share SHARE
FONT-SIZE Plus   Neg

Lexington Realty Trust Prices Public Offering Of 10.00 Mln Shares At $11.17/shr

Lexington Realty Trust (LXP), a real estate investment trust focused on single-tenant real estate investments, announced Friday that it priced an underwritten public offering of 10.00 million common shares at a public offering price of $11.17 per share.

It expects that the gross proceeds from the offering will be $111.7 million before underwriting discounts and commissions and estimated offering expenses.

The company also granted the underwriters of the offering a 30-day option to purchase up to an additional 1.50 million common shares. The offering is expected to close on or about October 17, 2013, subject to customary closing conditions.

The firm expects to use all of the net proceeds of the offering to pay down amounts outstanding under its unsecured revolving credit facility, a portion of which was used to fund the previously announced acquisition of the three long-term leased land parcels in New York, New York.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
HSBC is reportedly laying off about 100 of its senior investment bankers worldwide, as the banking giant strives to curb operating costs. According to reports, the London-headquartered bank will eliminate managing director and director level employees at the Global Banking and Markets division, as... Samsung Electronics Co., Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB) will reportedly blame faulty batteries for last year's Galaxy Note 7 fiasco. According to a Wall Street Journal report, Samsung's investigation of Galaxy Note 7 smartphones found that some batteries were irregularly sized while others had... Federal investigators have closed their probe of a fatal crash that involved a Tesla Motors Inc. car eight months ago. The regulators said they have found no safety defects in the vehicle's automated driving system and that Tesla's Autopilot-enabled vehicles did not need to be recalled.
comments powered by Disqus
Follow RTT