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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-top: Black 2.25pt double">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
May 24, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CAPLEASE, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 34%; padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Maryland</B></FONT></TD>
    <TD STYLE="width: 32%; padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1-32039</B></FONT></TD>
    <TD STYLE="width: 34%; padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>52-2414533</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left">(State or other jurisdiction</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: center">(Commission</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: center">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left">of incorporation)</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: center">File Number)</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: center">Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; padding: 0; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1065 Avenue of
    the Americas, New York, NY</B></FONT></TD>
    <TD STYLE="width: 35%; padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>10018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: left">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left">(Address of principal executive offices)</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>Registrant&rsquo;s telephone number, including
area code:</B>&#9;<B>(212) 217-6300</B></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 35.1pt">(Former name or former
address, if changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 35.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.1pt">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.1pt">&nbsp;</P>

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<TD STYLE="width: 35.1pt"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35.1pt"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35.1pt"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35.1pt"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 25, 2012, CapLease, Inc. (&ldquo;we&rdquo;
or the &ldquo;Company&rdquo;) and the Company&rsquo;s subsidiary Caplease, LP entered into a Controlled Equity Offering Sales Agreement
(the &ldquo;Sales Agreement&rdquo;) with Cantor Fitzgerald &amp; Co. (&ldquo;Cantor&rdquo; or the &ldquo;Sales Agent&rdquo;), relating
to shares of (i) our common stock, par value $0.01 per share (&ldquo;Common Stock&rdquo;), (ii) our 8.125% Series A Cumulative
Redeemable Preferred Stock, par value $0.01 per share (&ldquo;Series A Preferred Stock&rdquo;), and (iii) our 8.375% Series B Cumulative
Redeemable Preferred Stock, par value $0.01 per share (&ldquo;Series B Preferred Stock&rdquo;). Pursuant to the Sales Agreement,
we may offer and sell up to 9,000,000 shares of Common Stock, 1,000,000 shares of Series A Preferred Stock and 1,000,000 shares
of Series B Preferred Stock (such shares of Common Stock, Series A Preferred Stock and Series B Preferred Stock, the &ldquo;Securities&rdquo;)
from time to time through or to Cantor as the Sales Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Sales Agreement with Cantor is intended
to replace the Company&rsquo;s existing sales agreement with Merrill Lynch, Pierce Fenner &amp; Smith Incorporated, and supplements
the Company&rsquo;s existing sales agreement with Brinson Patrick Securities Corporation. We are not currently selling any shares
of Common Stock, Series A Preferred Stock or Series B Preferred Stock through the Company&rsquo;s &ldquo;at the market offering&rdquo;
program, although we reserve the right to elect to do so in our sole discretion at any time in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Sales of the Securities, if any, may be
made by <FONT STYLE="color: black">any method permitted by law deemed to be an &ldquo;at the market offering&rdquo; as defined
in Rule 415 of the Securities Act of 1933, as amended, including without limitation sales made directly on the New York Stock Exchange,
on any other existing trading market for the Securities or to or through a market maker, or in privately negotiated transactions</FONT>.
We have no obligation to sell any Securities pursuant to the Sales Agreement, and may at any time suspend solicitation and offers
pursuant to the Sales Agreement or terminate the Sales Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The compensation to the Sales Agent for
sales of the Securities will be a commission equal to up to 2.0% of the gross proceeds from the sales of shares pursuant to the
Sales Agreement. Pursuant to the Sales Agreement, the Sales Agent will use commercially reasonable efforts to sell the Securities
on our behalf. Under the terms of the Sales Agreement, we may also sell the Securities to the Sales Agent as principal for its
own account at prices agreed upon at the time of sale. We have agreed in the Sales Agreement to provide indemnification and contribution
to the Sales Agent against certain liabilities, including liabilities under the Securities Act of 1933, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities will be offered pursuant
to our shelf registration statement on Form S-3 (File No. 333-171408) (the &ldquo;Registration Statement&rdquo;), which was declared
effective on February 14, 2011 by the Securities and Exchange Commission (the &ldquo;Commission&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A prospectus supplement relating to the
Securities and an accompanying prospectus were filed with the Commission on May 25, 2012, and are part of our Registration Statement.
Interested investors should read the Registration Statement and all documents incorporated therein by reference. This Current Report
shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these Securities in
any state in which such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities
laws of any such state.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The description of the Sales Agreement is
qualified by reference to the complete agreement that is attached hereto as an exhibit and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment to Articles of Incorporation or Bylaws;
Change in Fiscal Year.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 24, 2012, CapLease, Inc. amended
its Articles of Incorporation solely to increase the number of authorized shares of its (i) Series A Preferred Stock and (ii) Series&nbsp;B
Preferred Stock. The amendments were filed in connection with the Sales Agreement discussed in Item&nbsp;1.01 above, and increase
the authorized number of shares of Series&nbsp;A Preferred Stock by 1&nbsp;million shares, to 5,680,000 shares, from 4,680,000
shares, and the Series&nbsp;B Preferred Stock by 1&nbsp;million shares, to 3,300,000 shares, from 2,300,000 shares. A copy of the
Company&rsquo;s Articles Supplementary, as filed with the Maryland State Department of Assessments and Taxation, are attached hereto
as Exhibit&nbsp;3.1 and Exhibit 3.2, respectively, and are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 15%; padding: 0; text-decoration: underline; text-indent: 0">Exhibit</TD>
    <TD STYLE="width: 76%; padding: 0; text-decoration: underline; text-indent: 0">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">1.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Controlled Equity Offering Sales Agreement, dated as of May 25, 2012, between Cantor Fitzgerald &amp; Co., CapLease, Inc. and Caplease, LP&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">3.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Articles Supplementary with respect to the 8.125% Series&nbsp;A Cumulative Redeemable Preferred Stock</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">3.2</TD>
    <TD STYLE="padding: 0; text-indent: 0">Articles Supplementary with respect to the 8.375% Series&nbsp;B Cumulative Redeemable Preferred Stock</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">5.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Opinion of Hunton &amp; Williams LLP regarding the legality of the Securities</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">8.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Opinion of Hunton &amp; Williams LLP&nbsp; regarding certain tax matters</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">23.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Consent of Hunton &amp; Williams LLP&nbsp; (included in Exhibits 5.1 and 8.1)</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 35%; padding: 0; text-align: justify; text-indent: 0">CapLease, Inc.</TD>
    <TD STYLE="width: 12%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0; border-bottom: Black 1pt solid">/s/ PAUL C. HUGHES</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Paul C. Hughes</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0">Vice President, General Counsel &amp; Corporate Secretary</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="margin: 0pt 0">DATE: May 25, 2012</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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{"company-data": {"conformed-name": "CapLease, Inc.", "cik": "0001057689", "assigned-sic": "6798", "irs-number": "522414533", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32039", "film-number": "12871963"}, "business-address": {"street1": "1065 AVENUE OF THE AMERICAS", "street2": "19TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10018", "phone": "2122176300"}, "mail-address": {"street1": "1065 AVENUE OF THE AMERICAS", "street2": "19TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10018"}, "former-company": {"former-conformed-name": "CAPITAL LEASE FUNDING INC", "date-changed": "19980312"}}
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 24, 2012
CAPLEASE, INC.
(Exact name of registrant as specified in
its charter)
Maryland
1-32039
52-2414533
(State or other jurisdiction
(Commission
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
1065 Avenue of
    the Americas, New York, NY
10018
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including
area code:
(212) 217-6300
(Former name or former
address, if changed since last report)
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Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.     Entry into a Material Definitive Agreement.
On May 25, 2012, CapLease, Inc. ("we"
or the "Company") and the Company's subsidiary Caplease, LP entered into a Controlled Equity Offering Sales Agreement
(the "Sales Agreement") with Cantor Fitzgerald & Co. ("Cantor" or the "Sales Agent"), relating
to shares of (i) our common stock, par value $0.01 per share ("Common Stock"), (ii) our 8.125% Series A Cumulative
Redeemable Preferred Stock, par value $0.01 per share ("Series A Preferred Stock"), and (iii) our 8.375% Series B Cumulative
Redeemable Preferred Stock, par value $0.01 per share ("Series B Preferred Stock"). Pursuant to the Sales Agreement,
we may offer and sell up to 9,000,000 shares of Common Stock, 1,000,000 shares of Series A Preferred Stock and 1,000,000 shares
of Series B Preferred Stock (such shares of Common Stock, Series A Preferred Stock and Series B Preferred Stock, the "Securities")
from time to time through or to Cantor as the Sales Agent.
The Sales Agreement with Cantor is intended
to replace the Company's existing sales agreement with Merrill Lynch, Pierce Fenner & Smith Incorporated, and supplements
the Company's existing sales agreement with Brinson Patrick Securities Corporation. We are not currently selling any shares
of Common Stock, Series A Preferred Stock or Series B Preferred Stock through the Company's "at the market offering"
program, although we reserve the right to elect to do so in our sole discretion at any time in the future.
Sales of the Securities, if any, may be
made by
any method permitted by law deemed to be an "at the market offering" as defined
in Rule 415 of the Securities Act of 1933, as amended, including without limitation sales made directly on the New York Stock Exchange,
on any other existing trading market for the Securities or to or through a market maker, or in privately negotiated transactions
.
We have no obligation to sell any Securities pursuant to the Sales Agreement, and may at any time suspend solicitation and offers
pursuant to the Sales Agreement or terminate the Sales Agreement.
The compensation to the Sales Agent for
sales of the Securities will be a commission equal to up to 2.0% of the gross proceeds from the sales of shares pursuant to the
Sales Agreement. Pursuant to the Sales Agreement, the Sales Agent will use commercially reasonable efforts to sell the Securities
on our behalf. Under the terms of the Sales Agreement, we may also sell the Securities to the Sales Agent as principal for its
own account at prices agreed upon at the time of sale. We have agreed in the Sales Agreement to provide indemnification and contribution
to the Sales Agent against certain liabilities, including liabilities under the Securities Act of 1933, as amended.
The Securities will be offered pursuant
to our shelf registration statement on Form S-3 (File No. 333-171408) (the "Registration Statement"), which was declared
effective on February 14, 2011 by the Securities and Exchange Commission (the "Commission").
A prospectus supplement relating to the
Securities and an accompanying prospectus were filed with the Commission on May 25, 2012, and are part of our Registration Statement.
Interested investors should read the Registration Statement and all documents incorporated therein by reference. This Current Report
shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these Securities in
any state in which such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities
laws of any such state.
The description of the Sales Agreement is
qualified by reference to the complete agreement that is attached hereto as an exhibit and is incorporated herein by reference.
Item 5.03.     Amendment to Articles of Incorporation or Bylaws;
Change in Fiscal Year.
On May 24, 2012, CapLease, Inc. amended
its Articles of Incorporation solely to increase the number of authorized shares of its (i) Series A Preferred Stock and (ii) Series B
Preferred Stock. The amendments were filed in connection with the Sales Agreement discussed in Item 1.01 above, and increase
the authorized number of shares of Series A Preferred Stock by 1 million shares, to 5,680,000 shares, from 4,680,000
shares, and the Series B Preferred Stock by 1 million shares, to 3,300,000 shares, from 2,300,000 shares. A copy of the
Company's Articles Supplementary, as filed with the Maryland State Department of Assessments and Taxation, are attached hereto
as Exhibit 3.1 and Exhibit 3.2, respectively, and are incorporated herein by reference.
Item 9.01.     Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Description
1.1
Controlled Equity Offering Sales Agreement, dated as of May 25, 2012, between Cantor Fitzgerald & Co., CapLease, Inc. and Caplease, LP
3.1
Articles Supplementary with respect to the 8.125% Series A Cumulative Redeemable Preferred Stock
3.2
Articles Supplementary with respect to the 8.375% Series B Cumulative Redeemable Preferred Stock
5.1
Opinion of Hunton & Williams LLP regarding the legality of the Securities
8.1
Opinion of Hunton & Williams LLP  regarding certain tax matters
23.1
Consent of Hunton & Williams LLP  (included in Exhibits 5.1 and 8.1)
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.
CapLease, Inc.
By:
/s/ PAUL C. HUGHES
Paul C. Hughes
Vice President, General Counsel & Corporate Secretary
DATE: May 25, 2012