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
Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016. The U.S. Food and Drug Administration has alerted health care professionals and patients of a voluntary recall of compounded multivitamin capsules containing high amounts of Vitamin D3 (Cholecalciferol), distributed nationwide by Glades Drugs in Pahokee, Florida. FDA has received reports of several... Flying is the passion for British aviatrix Tracey Curtis Taylor, and she is now on a solo flight to cross three continents and 23 countries in her own vintage open cockpit biplane. She has already crossed half of her journey from U.K. to Australia with a target to cover 13 thousand miles.
comments powered by Disqus
Trade LXP now with 
Follow RTT