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CapLease Announces Pricing of Its 7.25% Series C Preferred Stock

  CapLease Announces Pricing of Its 7.25% Series C Preferred Stock

Business Wire

NEW YORK -- January 17, 2013

CapLease, Inc. (NYSE: LSE)  announced today that it has priced an underwritten
public offering of 850,000 shares of its new 7.25% Series C Cumulative
Redeemable Preferred Stock, at a public offering price of $23.75 per share,
for gross proceeds of approximately $20 million. The offering, which was
significantly oversubscribed, is expected to close on January 25, 2013,
subject to customary closing conditions.

CapLease has filed an application to list the Series C Preferred Stock on the
New York Stock Exchange under the symbol “LSEPrC.” If that application is
approved, trading of the SeriesC Preferred Stock on the New York Stock
Exchange is expected to begin within 30days after the date of initial
issuance of the Series C Preferred Stock.

CapLease intends to use the net proceeds from the offering for general
corporate purposes, which are expected to primarily include repurchase or
redemption of its issued and outstanding 8.125% SeriesA Preferred Stock.

The shares will be issued pursuant to a registration statement that has been
declared effective by the Securities and Exchange Commission. A prospectus
supplement and accompanying prospectus relating to the offering have been
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 the
shares, nor shall there be any sale in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.

MLV & Co. LLC is acting as sole book-runner for the offering, and JMP
Securities LLC is acting as lead manager for the offering.

The offering may be made only by means of a prospectus supplement and the
accompanying prospectus. You may request copies of these documents by
contacting MLV & Co. LLC, 1251 Avenue of the Americas, New York, NY 10020,
Attn: Randy Billhardt, via email at rbillhardt@mlvco.com and via telephone at
(212) 542-5882.

This press release contains statements that are forward-looking. Such
forward-looking statements involve risks and uncertainties and actual outcomes
may differ materially from those projected. Factors that could cause actual
results to differ materially from CapLease’s expectations include, but are not
limited to, changes in capital markets and economic conditions, completion of
the offering on the terms described in the registration statement, the
prospectus supplement relating to the offering and the accompanying
prospectus, and use of proceeds from the sale of the Series C Preferred Stock.
For more information regarding these and other risks and uncertainties, review
CapLease’s Annual Report on Form 10-K for the year ended December 31, 2011 and
its other filings with the Securities and Exchange Commission.

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.

Contact:

ICR, Inc.
Investor Relations/Media:
Brad Cohen, 212-217-6393
bcohen@icrinc.com
 
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