Digital Realty Raises $95M in Stock Offering
May 23rd, 2006 By: Rich Miller
Digital Realty Trust, the leading owner of corporate data centers and Internet gateways, has sold an additional 4 million shares of common stock, raising approximately $95 million, the company said today. It has granted the underwriter, Citigroup Corporate and Investment Banking, a 30-day option to purchase up to an additional 600,000 shares to cover over-allotments.
Digital Realty will use the money to pay off some of its unsecured credit facility. “The Company is actively pursuing multiple opportunities for potential acquisitions, with due diligence and negotiations at different stages of advancement,” DLR said in a statement. “The Company intends to reborrow amounts under its revolving credit facility from time to time to fund acquisitions and for general corporate purposes.”
Shares of Digital Realty added 3 cents to close at $24.40 on the New York Stock Exchange.