WASHINGTON, Oct. 6 /PRNewswire-FirstCall/ -- DuPont Fabros Technology, Inc. (NYSE : DFT ) today announced that it has commenced an underwritten public offering of its Series A Cumulative Redeemable Perpetual Preferred Stock. The joint book-running managers for this offering are Barclays Capital, Raymond James, RBC Capital Markets, Macquarie Capital and Jefferies & Company, and the co-managers are Stifel Nicolaus Weisel, KeyBanc Capital Markets, Oppenheimer & Co., Baird and TD Securities. The company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series A Preferred Stock initially sold to the public to cover overallotments, if any. The company intends to file an application to list the Series A Preferred Stock on the New York Stock Exchange.
The company intends to use all of the net proceeds from the offering, plus a portion of its available cash balances, to pay off in full its ACC4 Term Loan. The company intends to use its remaining cash balances together with the amounts available under its $100 million revolving credit facility (currently unused) to complete the current projects under development.
A shelf registration statement with respect to this offering was previously filed with the Securities and Exchange Commission and declared effective on May 4, 2009. A prospectus supplement relating to the offering has been filed with the Securities and Exchange Commission.
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. Copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (888) 603-5847; or Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716 or by calling (800) 248-8863.
About DuPont Fabros Technology, Inc.
DuPont Fabros Technology, Inc. is a real estate investment trust (REIT) and leading owner, developer, operator and manager of wholesale data centers. The Company's data centers are highly specialized, secure facilities used primarily by national and international Internet and enterprise companies to house, power and cool some of their computer servers that support many of their most critical business processes. DuPont Fabros Technology, Inc. is headquartered in Washington, DC.
SOURCE DuPont Fabros Technology, Inc.