W. P. Carey Announces Pricing of Public Offering of Common Stock

Core Viewpoint - W. P. Carey Inc. has announced the pricing of a public offering of 6,000,000 shares of common stock, aiming for gross proceeds of $432 million, with an option for underwriters to purchase an additional 900,000 shares [1] Group 1: Offering Details - The offering is structured as a forward sale agreement, with proceeds intended for future investments, debt repayment, and general corporate purposes [1] - The company has engaged BofA Securities and J.P. Morgan as joint book-running managers for the offering [1] - The forward sale agreements involve the forward purchasers borrowing shares to sell to underwriters, totaling 6,000,000 shares, or 6,900,000 if the underwriters' option is fully exercised [1] Group 2: Settlement and Use of Proceeds - The company is obligated to issue shares upon physical settlement of the forward sale agreements within approximately 24 months from the prospectus supplement date [1] - Proceeds from the offering will be used to fund potential future investments, repay certain debts, and for general corporate purposes [1] Group 3: Company Profile - 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 income generated by its real estate portfolio, which includes single-tenant industrial, warehouse, and retail facilities [1]