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Lexington Realty Trust prices $101M common stock offering

Lexington Realty Trust priced its public offering of 10.0 million common shares for expected gross proceeds of approximately $101 million.

The diversified real estate investment trust has granted a 30-day option to the underwriters to acquire up to 1.5 million additional common shares.

The company aims to use the net proceeds for working capital and general corporate purposes.

J.P. Morgan and Wells Fargo Securities are the underwriters for the offering, which is expected to settle Sept. 9.