Company: LXP
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000910108-25-000067
Chunk: 44

Company: LXP Industrial Trust
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 44
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. As of September 30, 2025, the Company expects to incur approximately $29,100, excluding noncontrolling interests' share and potential developer incentive fees or partner buyouts, to substantially fund the consolidated development project commitments, including the vacant development projects placed in service. As of September 30, 2025, the Company has interests in various industrial land parcels held for development. The Company is unable to estimate the timing of any required funding for the potential development projects on these parcels. 

From time to time, the Company is directly or indirectly involved in legal proceedings arising in the ordinary course of business. Management believes, based on currently available information, and after consultation with legal counsel, that although the outcomes of those normal course proceedings are uncertain, the results of such proceedings, in the aggregate, will not have a material adverse effect on the Company's business, financial condition and results of operations. 

(15)     Subsequent Events

Subsequent to September 30, 2025:•On October 20, 2025, the Company repaid $140,000 of its outstanding 6.750% Senior Notes due 2028 pursuant to a cash tender offer (the "Tender Offer"). In connection with the Tender Offer, the Company expects to recognize a loss on extinguishment of debt of approximately $12,593 in the fourth quarter of 2025. •the Company's Board of Trustees approved a reverse split of its outstanding common shares at a ratio of 1-for-5, which is expected to become effective on or about November 10, 2025. As of the date of issuance of these financial statements, the reverse share split has not yet been effected. This event did not affect the Company's financial position as of September 30, 2025, and accordingly, no adjustments have been made in the accompanying financial statements. The Company will retrospectively adjust share and per-share data upon the effectiveness of the reverse share split in future filings, as applicable.

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Table of Contents

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL

CONDITION AND RESULTS OF OPERATIONS

Introduction

Unless stated otherwise or the context otherwise requires, when we use the terms the “Company,” the “Trust,” “LXP,” “we,” “our,” and “us,” we refer collectively to LXP Industrial Trust and its consolidated subsidiaries. All of the Company's interests are held, and all of the property operating activities are conducted through special purposes entities,