Lexington Realty Trust (LXP: Quote) announced it priced an underwritten registered public offering of 20 million common shares at a public offering price of $11.70 per share. Lexington also granted the underwriters a 30-day option to purchase up to an additional 3 million common shares.
Lexington expects to use approximately $137.9 million of the net proceeds to repay the outstanding borrowings under its unsecured revolving credit facility and the balance for general corporate purposes, including, without limitation, unspecified acquisitions.
The offering is expected to close on or about March 15.
Click here to receive FREE breaking news email alerts for Lexington Realty Trust and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comBusiness News