SAN FRANCISCO, June 2 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (NYSE: DLR) today announced the pricing of a public offering of 6,000,000 shares of its common stock at a price of $57.00 per share, for net proceeds of approximately $327.8 million after underwriting discounts and commissions and estimated offering expenses (or approximately $377.1 million if the underwriters' over-allotment option is exercised in full). Digital Realty Trust has granted the underwriters the option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any. The offering is expected to close on June 8, 2010. All of the shares were offered by Digital Realty Trust and will be issued under Digital Realty Trust's currently effective shelf registration statement filed with the Securities and Exchange Commission.
Digital Realty Trust intends to use the net proceeds from the offering to fund a portion of the acquisition of a five-property data center portfolio located in California, Arizona and Virginia, which we refer to as the Rockwood Capital/365 Main Portfolio, or to acquire additional properties, to fund development and redevelopment opportunities and for general working capital purposes, including potentially for the repurchase, redemption or retirement of outstanding debt or preferred securities.
Credit Suisse Securities (USA) LLC, Citi and BofA Merrill Lynch served as book running managers for the offering. Morgan Stanley, Deutsche Bank Securities and Raymond James, served as lead managers, and JMP Securities, J.P. Morgan, RBC Capital Markets and RBS served as co-managers, for the offering. A final prospectus supplement related to the public offering will be filed with the Securities and Exchange Commission. Copies of the final prospectus supplement, when available, may be obtained from Credit Suisse Securities (USA) LLC (Prospectus Department, One Madison Avenue, New York, NY 10010), Citi (Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220) or BofA Merrill Lynch (4 World Financial Center, New York, NY 10080, Attn: Preliminary Prospectus Department or email Prospectus.Requests@ml.com).
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. owns, acquires, redevelops, develops and manages technology-related real estate. The Company is focused on providing Turn-Key Datacenter® and Powered Base Building® datacenter solutions for domestic and international tenants across a variety of industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty Trust's 86 properties, excluding one property held as an investment in an unconsolidated joint venture, contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 15.2 million rentable square feet as of May 25, 2010, including 2.0 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 27 markets throughout North America and Europe. For additional information, please visit Digital Realty Trust's website at http://www.digitalrealtytrust.com.
This press release contains forward-looking statements, including statements related to the offering, the expected use of the net proceeds and the expected timing of closing of the offering, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties are described in the reports and other filings by the Company with the United States Securities and Exchange Commission, including the Company's annual report on Form 10-K for the year ended December 31, 2009 and the Company's quarterly report on Form 10-Q for the quarter ended March 31, 2010. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For Additional Information:
A. William Stein
Pamela A. Matthews
Chief Financial Officer and
Chief Investment Officer
Digital Realty Trust, Inc.
Digital Realty Trust, Inc.
SOURCE Digital Realty Trust, Inc.