DuPont Fabros greenshoe partially exercised, lifts 7 5/8% preferred shares to $101.25 million

By Melissa Kory

Cleveland, March 14 - DuPont Fabros Technology, Inc. announced that underwriters partially exercised an over-allotment option for an additional 450,000 shares, or $11.25 million, of the company's 7 5/8% series B preferred stock, lifting the size of the preferred issue to $101.25 million.

The over-allotment option was exercised in connection with the company's previously announced offering of 3.6 million shares of its preferreds, which closed on March 8.

The offering included a greenshoe for up to 540,000 preferred shares.

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

The company estimates that the total proceeds from the offering will be $97.7 million. The company intends to use the proceeds, together with borrowings under its currently undrawn $100 million revolving credit facility, to develop the second phase of its CH1 data center in Elk Grove Village, Ill.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.