LXP Industrial Trust Reports Material Agreement and Stock Details

TL;DR

**LXP Industrial Trust just filed an 8-K about a new material agreement and stock details, keep an eye out for what it means!**

AI Summary

LXP Industrial Trust filed an 8-K on February 20, 2024, reporting on events that occurred on February 16, 2024. The filing indicates an entry into a material definitive agreement and other events, specifically mentioning shares of beneficial interest (common stock) and 6.50% Series C Cumulative Convertible Preferred Stock. The document also details the company's history, including name changes from Lexington Corporate Properties Inc. to Lexington Realty Trust, and finally to LXP Industrial Trust.

Why It Matters

This filing signals potential changes in LXP Industrial Trust's financial structure or strategic direction, which could impact its valuation and future performance.

Risk Assessment

Risk Level: medium — The filing mentions a 'material definitive agreement' without specifics, which introduces uncertainty regarding its impact.

Key Numbers

• 0.0001 — Par Value Per Share (For both Common Stock and Series C Preferred Stock)

Key Players & Entities

• LXP Industrial Trust (company) — Filing entity
• Lexington Realty Trust (company) — Former name of LXP Industrial Trust
• Lexington Corporate Properties Trust (company) — Former name of LXP Industrial Trust
• Lexington Corporate Properties Inc (company) — Former name of LXP Industrial Trust
• February 16, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — hares of beneficial interest, par value $0.0001 per share, classified as Common Stock
• $350,000,000 — pplement "), covering the sale of up to $350,000,000 aggregate offering price of shares of b

Filing Documents

• n3521_x17-8k.htm (8-K) — 47KB
• exh_1-3.htm (EX-1.3) — 37KB
• exh_5-1.htm (EX-5.1) — 19KB
• exh_5-2.htm (EX-5.2) — 11KB
• n3521x17_img-001.jpg (GRAPHIC) — 2KB
• n3521x17_img-002.jpg (GRAPHIC) — 2KB
• 0001539497-24-000535.txt ( ) — 352KB
• lxp-20240216.xsd (EX-101.SCH) — 4KB
• lxp-20240216_def.xml (EX-101.DEF) — 26KB
• lxp-20240216_lab.xml (EX-101.LAB) — 36KB
• lxp-20240216_pre.xml (EX-101.PRE) — 25KB
• n3521_x17-8k_htm.xml (XML) — 6KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On February 16, 2024, LXP Industrial Trust (the " Trust ") filed a shelf registration statement on Form S-3 (File No. 333-277142) with the Securities and Exchange Commission (the " SEC "). On February 16, 2024, the Trust filed a prospectus supplement, dated February 16, 2024 (the " ATM Prospectus Supplement "), covering the sale of up to $350,000,000 aggregate offering price of shares of beneficial interest classified as common stock of the Trust, par value $0.0001 per share (the " Securities ") with the SEC. On February 16, 2024, the Trust also filed a prospectus supplement, dated February 16, 2024, with the SEC related to the Trust's Amended and Restated Dividend Reinvestment and Direct Share Purchase Plan. In connection with the filing of the ATM Prospectus Supplement, on February 16, 2024, the Trust entered into Amendment No. 2 (the " Amendment No. 2 ") to the Equity Sales Agreement dated as of November 27, 2019, (the " Equity Sales Agreement "), as amended by Amendment No. 1 to the Equity Sales Agreement, dated as of February 19, 2021 (the " Amendment No. 1 " and together with the Equity Sales Agreement and Amendment No. 2, the " Amended Equity Sales Agreement "), with Jefferies LLC, KeyBanc Capital Markets Inc., Regions Securities LLC, BofA Securities, Inc., Mizuho Securities USA LLC and Evercore Group L.L.C., acting in their capacity as sales agents or Forward Sellers (as described below), and Jefferies LLC, KeyBanc Capital Markets Inc., Bank of America, N.A., Mizuho Markets Americas LLC and Regions Securities LLC or one of their respective agents or affiliates, acting in their capacity as Forward Purchasers or Forward Sellers (each as defined below), for the sale, from time to time, of the Securities. The Trust refers to these entities, when acting in their capacity as sales agents, individually as a " Sales Agent " and collectively as " Sales Agents ." The Securities may be offered and sold through t

01 Other Events

Item 8.01 Other Events. On February 16, 2024, Hogan Lovells US LLP delivered its legality opinion with respect to the Securities to be issued pursuant to the Amended Equity Sales Agreement. A copy of the legality opinion is attached hereto as Exhibit 5.1. On February 16, 2024, Hogan Lovells US LLP delivered its legality opinion with respect to the common shares to be issued pursuant to the Amended and Restated Dividend Reinvestment and Direct Share Purchase Plan. A copy of the legality opinion is attached hereto as Exhibit 5.2.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 1.1 Equity Sales Agreement, dated as of February 19, 2021, between the Trust and Jefferies LLC, KeyBanc Capital Markets Inc., Regions Securities LLC, BofA Securities, Inc., Bank of America, N.A., Mizuho Securities USA LLC, Mizuho Markets Americas LLC and Evercore Group L.L.C. (filed as Exhibit 1.1 to the Trust's Current Report on Form 8-K filed February 19, 2021). * 1.2 Amendment No. 1 to Equity Sales Agreement, dated as of February 19, 2021, between the Trust and Jefferies LLC, KeyBanc Capital Markets Inc., Regions Securities LLC, BofA Securities, Inc., Bank of America, N.A., Mizuho Securities USA LLC, Mizuho Markets Americas LLC and Evercore Group L.L.C. (filed as Exhibit 1.2 to the Trust's Current Report on Form 8-K filed February 19, 2021). * 1.3 Amendment No. 2 to Equity Sales Agreement, dated as of February 16, 2024, between the Trust and Jefferies LLC, KeyBanc Capital Markets Inc., Regions Securities LLC, BofA Securities, Inc., Bank of America, N.A., Mizuho Securities USA LLC, Mizuho Markets Americas LLC and Evercore Group L.L.C.** 5.1 Opinion of Hogan Lovells US LLP regarding the legality of the common shares registered.** 5.2 Opinion of Hogan Lovells US LLP regarding the legality of the common shares registered.** 23.1 Consent of Hogan Lovells US LLP (included in Exhibit 5.1).** 23.2 Consent of Hogan Lovells US LLP (included in Exhibit 5.2).** 104 Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document). * Incorporated by reference. ** Filed herewith .

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LXP INDUSTRIAL TRUST Date: February 16, 2024 By: /s/ Beth Boulerice Name: Beth Boulerice Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR