Stock message boards
Preferred Stock Channel
Market News Video Self Directed Investor The Warren Buffetts Next Door Stock message boards
CapLease Inc | 7.25% Series C Cumulative Redeemable Preferred Stock (LSE.PRC)

Prospectus exerpt:  We are offering 850,000 shares of our 7.25% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, which we refer to as the Series C Preferred Stock. This is the original issuance of the Series C Preferred Stock.

Dividends on the Series C Preferred Stock will be payable quarterly on or about the 15th day of January, April, July and October of each year, commencing April 15, 2013. The dividend rate is 7.25% per annum of the $25.00 liquidation preference, which is equivalent to $1.8125 per annum per share of Series C Preferred Stock.

Except in instances relating to preservation of our qualification as a real estate investment trust (“REIT”) or in connection with a Change of Control (as defined herein) of our company, the Series C Preferred Stock is not redeemable prior to January 25, 2018. At any time on and after January 25, 2018, we may, at our option, redeem the Series C Preferred Stock, in whole or from time to time in part, by paying $25.00 per share, plus any accumulated and unpaid dividends to, but not including, the date of redemption. In addition, upon the occurrence of a Change of Control, we may, at our option, redeem the Series C Preferred Stock, in whole or in part within 120 days after the first date on which such Change of Control occurred, by paying $25.00 per share, plus any accumulated and unpaid dividends to, but not including, the date of redemption. Further, upon a Change of Control each holder of Series C Preferred Stock will have the right (subject to our right to redeem the Series C Preferred Stock in whole or in part, as described above, prior to the Change of Control Conversion Date (as defined herein)) to convert some or all of the Series C Preferred Stock held by such holder on the Change of Control Conversion Date into a number of shares of our common stock, par value $0.01 per share (the “common stock”), per share of Series C Preferred Stock (or the equivalent value of alternative consideration) as described in this prospectus supplement. If we exercise any of our redemption rights relating to the Series C Preferred Stock, the holders of Series C Preferred Stock will not be permitted to exercise the conversion right described above in respect of their shares called for redemption. The Series C Preferred Stock has no maturity date and will remain outstanding indefinitely unless redeemed by us or converted in connection with a Change of Control by the holders of Series C Preferred Stock. The shares of Series C Preferred Stock are subject to certain ownership and transfer restrictions designed to preserve our REIT qualification for federal income tax purposes. See “Description of the Series C Preferred Stock — Restrictions on Ownership and Transfer.”

Full Prospectus PDF », LSE Page »

Series:C
Redeemable?:Yes
Call Date:1/25/2018
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:850,000
Liquidation Preference:$25
Original Coupon:7.250%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CapLease is a real estate investment trust that primarily owns and manages a portfolio of single tenant commercial real estate properties subject to long-term leases to tenants. Many of the properties Co. owns are subject to a net lease, or a lease that requires the tenant to pay all or substantially all property operating expenses, such as utilities, real estate taxes, insurance and routine maintenance. Co. conducts its business through two operating segments: operating real estate (including its investments in owned real properties); and debt investments (including its loan investments as well as its investments in securities). As of Dec 31 2012, Co. had 71 properties in 25 states.

Preferreds: LSE.PRB, LSE.PRA, LSE.PRC


Open the LSE Information Page »
Name:  CapLease Inc
Website:  www.caplease.com
Sector:  REITs

Quotes delayed 20 minutes

CapLease Inc | 7.25% Series C Cumulative Redeemable Preferred Stock (LSE.PRC) Information Page | Preferred Stock Channel | www.PreferredStockChannel.com | Copyright © 2011 - 2014, All Rights Reserved

Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and dividend videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.