W. P. Carey Announces Public Offering of Common Stock

Core Viewpoint - W. P. Carey Inc. has announced a public offering of 6,000,000 shares of common stock, with an option for underwriters to purchase an additional 900,000 shares, aimed at funding future investments, repaying debt, and general corporate purposes [1]. Group 1: Offering Details - The offering consists of 6,000,000 shares of common stock, with a potential total of 6,900,000 shares if the underwriters' option is fully exercised [1]. - BofA Securities and J.P. Morgan are acting as joint book-running managers for the offering [1]. - The company plans to enter into forward sale agreements with Bank of America and JPMorgan Chase Bank, where the forward purchasers will borrow shares to sell to the underwriters [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for potential future investments, repayment of certain indebtedness, and general corporate purposes [1]. - The company expects to physically settle the forward sale agreements within approximately 24 months from the date of the prospectus supplement [1]. Group 3: Company Overview - W. P. Carey Inc. is an internally-managed, diversified REIT, primarily owning commercial real estate leased to companies in the U.S. and Europe [1]. - The majority of the company's revenue comes from lease revenue generated by its real estate portfolio, which includes single-tenant industrial, warehouse, and retail facilities [1].