CapLease Inc. (NYSE: LSE) reported Tuesday that it raised $55 million by selling common and preferred stock, according to Associated Press.
The real estate investment trust sold $40 million in preferred stock and $15 million in common stock. CapLease plans to use the proceeds to reduce debt and add new portfolio investments, among other purposes.
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CapLease said in late March that it would sell 1.8 million shares of preferred stock at $23.06 per share. It priced the common stock at $4.77 per share, implying it sold more than 3 million shares. An affiliate of Golden Gate Capital bought the common stock.
CapLease stock fell 1 cent to $5.54 in afternoon trading.
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