CapLease Announces Successful Completion of Merger with ARCP and Interim Fourth Quarter Dividend Payment Amounts
November 05 2013 - 5:54PM
Business Wire
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.
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 RelationsBrad Cohen,
212-217-6393bcohen@icrinc.com
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