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

Core Viewpoint - W. P. Carey Inc. has successfully closed a public offering of 6,000,000 shares of common stock, generating gross proceeds of $432 million, with plans to utilize the funds for future investments, debt repayment, and general corporate purposes [1] Group 1: Offering Details - The offering included a 30-day option for underwriters to purchase an additional 900,000 shares [1] - The company entered into forward sale agreements with Bank of America and JPMorgan Chase, allowing for the borrowing and selling of shares to underwriters [1] - The expected physical settlement of the forward sale agreements will occur within approximately 24 months from the date of the prospectus supplement [1] Group 2: Use of Proceeds - The net proceeds from the offering will be used to fund potential future investments, repay certain indebtedness, and for general corporate purposes [1] - The company has an unsecured revolving credit facility that may be repaid using the proceeds [1] Group 3: Company Profile - W. P. Carey Inc. is an internally-managed, diversified REIT primarily focused on owning commercial real estate, with a significant portion of revenue derived from lease income [1] - The company's real estate portfolio mainly consists of single-tenant industrial, warehouse, and retail facilities critical to tenant operations [1]