NEW YORK, Oct. 10, 2013 (GLOBE NEWSWIRE) -- Lexington Realty Trust (NYSE:LXP) ("Lexington"), a real estate investment trust focused on single-tenant real estate investments, today announced that it has commenced an underwritten public offering of 10,000,000 common shares. In connection with the offering, Lexington granted the underwriters of the offering a 30-day option to purchase up to an additional 1,500,000 common shares.
Lexington expects to use all of the net proceeds of the offering to pay down the 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.
Wells Fargo Securities and Barclays are acting as the underwriters of the offering.This offering will be made under Lexington's existing automatic shelf registration statement filed with the Securities and Exchange Commission. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement, when available. The prospectus supplement related to this public offering will be filed with the Securities and Exchange Commission. Copies of the prospectus and related prospectus supplement may be obtained by contacting Wells Fargo Securities Attention: Equity Syndicate Department, 375 Park Avenue, New York, N.Y., 10152, or by telephone toll free at (800) 326-5897 or by e-mail at firstname.lastname@example.org; or Barclays, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, or by calling 1-888-603-5847, or by email at email@example.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.
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