Cogent Plans $75 Million Stock Offering

Bandwidth and colocation provider Cogent Communications plans to raise $75 million with a secondary stock offering, the company said today. Cogent is renowned for “ultra-high bandwidth offered at radically low price.” The Washington D.C. company also operates 30 colocation facilities in 11 countries, including a number of sites Cogent acquired when it bought PSINet in a bankruptcy deal during the data center downturn. It recently completed a 1-for-20 reverse stock split. Investors seem to like the additional liquidity, as Cogent shares were trading up about 8 percent ($25.01 a share, up $1.97) in NASDAQ trading.

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About the Author

Rich Miller is the founder and editor at large of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.