Digital Realty Offers $300M in Preferred Stock
Digital Realty Trust (DLR) will sell 12 million shares of preferred stock in hopes of raising $300 million. Digital Realty will use the funds to pay down its credit facility, giving it more flexibility to pursue acquire new properties and convert its development space into Turn-Key Datacenter space. The company says it is "actively pursuing multiple opportunities for potential acquisitions, with due diligence and negotiations at different stages of advancement."
The shares of Series D Cumulative Convertible Preferred Stock will be convertible for shares of Digital Realty Trust common stock, which closed Thursday at $35.76. See Globe Street for additional details.
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By Rich Miller 
February 01, 2008 | Permalink | >Get Posts By E-mail
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