CapLease Prices and Upsizes Common Stock Offering
CapLease Prices and Upsizes Common Stock Offering
NEW YORK--(BUSINESS WIRE)-- CapLease, Inc. (NYS: LSE) announced today that it has priced its previously announced common stock offering. The offering was priced at $5.97 per share and consisted of 7,500,000 shares of common stock. The offering was increased by 1,000,000 shares from the originally announced offering of 6,500,000 shares. CapLease has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock to cover over-allotments, if any. CapLease expects the offering to close on April 9, 2013, subject to customary closing conditions.
CapLease intends to use the net proceeds of the offering for general corporate purposes, which is expected to primarily include funding real property acquisitions in its pipeline.
Wells Fargo Securities is the sole book-running manager of the offering. JMP Securities and Stifel are the co-managers for the offering. A copy of the prospectus supplement and prospectus relating to the offering may be obtained from Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152 (email: cmclientsupport@wellsfargo.com or telephone (800) 326-5897).
The shares of common stock will be issued pursuant to a registration statement that has been declared effective by the Securities and Exchange Commission. This press release 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 the registration or qualification under the securities laws of any such state.
This press release contains statements that are forward-looking. Such forward-looking statements involve risks and uncertainties and actual outcomes may differ materially from those projected. For more information regarding these risks and uncertainties, review CapLease's filings with the Securities and Exchange Commission.
About the Company:
CapLease, Inc. is a real estate investment trust, or REIT, that primarily owns and manages a diversified portfolio of single tenant commercial real estate properties subject to long-term leases to high credit quality tenants.
Investor Relations/Media:
ICR, Inc.
Brad Cohen, 212-217-6393
bcohen@icrinc.com
KEYWORDS: United States North America New York
INDUSTRY KEYWORDS:
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