This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CapLease Announces Successful Completion Of Merger With ARCP And Interim Fourth Quarter Dividend Payment Amounts

CapLease, Inc. (NYSE:LSE) (the “Company”) announced today the successful completion of its previously announced merger with an affiliate of American Realty Capital Properties, Inc. After the close of market on November 5, 2013, the Company’s common stock and preferred stock have ceased to trade on the New York Stock Exchange. The merger was previously approved by approximately 99% of the votes cast by the Company’s common stockholders at a special meeting held on September 10, 2013.

As previously announced, the Company will pay pro-rated cash dividends for the fourth quarter. The dividends are payable to holders of record on November 4, 2013, of the Company’s common stock, limited partnership units, 8.125% Series A Cumulative Redeemable Preferred Stock (NYSE: LSEPrA), 8.375% Series B Cumulative Redeemable Preferred Stock (NYSE: LSEPrB), and 7.25% Series C Cumulative Redeemable Preferred Stock (NYSE: LSEPrC).

The pro-rated cash dividends equate to $0.031 per share or unit of the Company’s common stock and limited partnership units, $0.197483 per share of the Company’s 8.125% Series A Cumulative Redeemable Preferred Stock, $0.203559 per share of the Company’s 8.375% Series B Cumulative Redeemable Preferred Stock, and $0.176215 per share of the Company’s 7.25% Series C Cumulative Redeemable Preferred Stock. The preferred dividends represent all amounts accrued on the Company’s preferred stock through, but excluding, the closing date of the merger.

The pro-rated dividends on the Company’s preferred stock will be paid as promptly as practicable in connection with the payment of the merger consideration. The pro-rated dividends on the Company’s common stock will be paid on or about November 18, 2013.

In connection with the merger, Hunton & Williams LLP acted as legal advisor to the Company and Wells Fargo Securities, LLC and Houlihan Lokey Financial Advisors, Inc. provided financial advisory services to the Company. Proskauer Rose LLP acted as legal advisor to American Realty Capital Properties, Inc.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs