Real estate investment trust Lexington Realty Trust said Wednesday it is publicly offering $77 million in common stock.

The company is offering 10 million shares at $7.70 apiece, marking a 4.3 percent discount to the stock's closing price of $8.05 on Tuesday.

The company also granted the underwriter a 30-day option to buy up to an additional 1.5 million shares. Barclays Capital is the sole book running manager.

The offering is expected to close on Dec. 20. The company has about 134.7 million shares of common stock outstanding.

Lexington Realty said it would use proceeds to repay debt and for general corporate purposes.

Shares of Lexington Realty rose 6 cents to $8.11 in morning trading on Wednesday.