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Section 1: 8-K (8-K)

Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 3, 2020

LEXINGTON REALTY TRUST
(Exact name of registrant as specified in its charter)
Maryland
 
001-2386
 
13-3717318
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)
 
 
One Penn Plaza, Suite 4015,
New York,
New York
 
 
10119-4015
(Address of Principal Executive Offices)
 
 
(Zip Code)
(212) 692-7200
Registrant's telephone number, including area code

Not Applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Shares of beneficial interest, par value $0.0001 per share, classified as Common Stock
LXP
New York Stock Exchange
6.50% Series C Cumulative Convertible Preferred Stock, par value $0.0001 per share
LXPPRC
New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o






Item 8.01.    Other Events.

On June 3, 2020, Lexington Realty Trust (the "Trust") announced the full exercise of the option to purchase 2,250,000 additional shares of the Trust’s shares of beneficial interest, par value $0.0001 per share, classified as common stock ("Common Shares") pursuant to an Underwriting Agreement, dated as of May 11, 2020, between Morgan Stanley & Co. LLC and BofA Securities, Inc., on the one hand, and the Trust, on the other hand. The issuance of the additional 2,250,000 common shares closed on June 3, 2020. The full exercise of the option to purchase the additional shares brings the total number of Common Shares sold in the offering to 17,250,000. Aggregate net proceeds to Lexington from the offering, after deducting offering expenses, were approximately $164.3 million.

The offering was made pursuant to the Trust’s effective shelf registration statement on Form S-3ASR (File No. 333-223257) filed with the Securities and Exchange Commission and effective as of February 27, 2018, a preliminary prospectus supplement relating to the Common Shares, dated May 11, 2020, and a final prospectus supplement relating to the Common Shares, dated May 11, 2020.

On June 3, 2020, the Trust issued a press release relating to the exercise of the option to purchase additional Common Shares. A copy of the press release is attached as Exhibit 99.1.

Item 9.01.    Financial Statements and Exhibits.

(d)
Exhibits
 
 








SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
Lexington Realty Trust
 
 
 
 
 
 
Date: June 3, 2020
By:
/s/ Beth Boulerice
 
 
Beth Boulerice
 
 
Chief Financial Officer





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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit

Exhibit 99.1

 
LEXINGTON REALTY TRUST
TRADED: NYSE: LXP
ONE PENN PLAZA, SUITE 4015
NEW YORK, NY 10119-4015

Contact:
Investor or Media Inquiries for Lexington Realty Trust:
Beth Boulerice, Chief Financial Officer
Lexington Realty Trust
Phone: (212) 692-7200 E-mail: [email protected]

FOR IMMEDIATE RELEASE
June 3, 2020

LEXINGTON REALTY TRUST ANNOUNCES
FULL EXERCISE OF OPTION BY UNDERWRITERS AND
CLOSING OF PUBLIC OFFERING OF COMMON SHARES

New York, NY - June 3, 2020 - Lexington Realty Trust (NYSE:LXP) ("Lexington"), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that it in connection with Lexington’s underwritten public offering of common shares the underwriters have exercised in full their option to purchase an additional 2,250,000 common shares. The issuance of the additional 2,250,000 common shares closed on June 3, 2020. The full exercise of the option to purchase the additional shares brings the total number of shares sold in the offering to 17,250,000. Aggregate net proceeds to Lexington from the offering, after deducting offering expenses, were approximately $164.3 million.
Lexington intends to use the net proceeds from the offering for working capital and general corporate purposes, including acquisitions it may identify in the future. Pending the application of such net proceeds, Lexington may use such net proceeds to pay down all or a portion of the outstanding balance under its revolving credit facility.
Morgan Stanley and BofA Securities acted as underwriters for the offering.
This offering was made pursuant to Lexington’s currently effective shelf registration statement, which was previously filed with the Securities and Exchange Commission.
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 these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
ABOUT LEXINGTON REALTY TRUST
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions, development projects and other transactions, including acquisitions.




This release contains certain forward-looking statements which involve known and unknown risks, uncertainties and other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in Lexington's periodic filings with the Securities and Exchange Commission. Except as required by law, Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events.
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