DuPont Fabros greenshoe partially exercised on 7.875% preferred stock

By Melissa Kory

Cleveland, Oct. 21 - DuPont Fabros Technology, Inc. said it exercised its over-allotment option for an additional 400,000 shares of its 7.875% series A preferred stock.

The over-allotment option was exercised in connection with the company's previously announced offering of 7 million shares of its preferreds, which closed on Oct. 13.

The estimated net proceeds from the offering, including the 400,000 shares from the over-allotment option, are $179 million.

Barclays Capital, Raymond James, RBC Capital Markets, Macquarie Capital and Jefferies & Co. acted as joint bookrunners. Stifel Nicolaus Weisel, KeyBanc Capital Markets, Oppenheimer & Co. Inc., Baird and TD Securities acted as co-managers.

Proceeds, plus a portion of the company's available cash balances, will be used to pay off the company's outstanding $196.5 million ACC4 term loan in full.

DuPont Fabros is a Washington, D.C.-based real estate investment trust that owns, develops, operates and manages wholesale data centers.

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