Digital Realty Trust Announces Pricing of Common Stock Offering
SAN FRANCISCO, Oct. 17 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (NYSE: DLR) today announced the pricing of a public offering of 3,500,000 shares of its common stock at a price of $39.38 per share, for net proceeds of approximately $130.8 million after underwriting discounts and commissions and estimated offering expenses (or approximately $150.5 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 525,000 shares of common stock to cover overallotments, if any. The offering is expected to close on October 22, 2007. 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 utilize the net proceeds from the offering to temporarily repay borrowings under its credit facility. Digital Realty Trust intends to reborrow amounts under its credit facility from time to time to acquire additional properties, to fund development and redevelopment opportunities and for general corporate purposes.
Merrill Lynch & Co. and Credit Suisse Securities (USA) LLC served as joint book running 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 Merrill Lynch & Co., 250 Vesey Street, New York, NY 10080 (telephone: 212-449-1000) or Credit Suisse, Prospectus Department, One Madison Avenue, New York, New York 10010 (telephone: 212-325-2580).
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.
Digital Realty Trust owns, acquires, develops, redevelops and manages technology-related real estate. Digital Realty Trust's 66 properties as of October 10, 2007, excluding one property held through an investment in an unconsolidated joint venture, contain applications and operations critical to the day-to-day operations of technology industry and corporate enterprise datacenter tenants. Comprising approximately 11.9 million rentable square feet, including 1.8 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 26 markets throughout North America and Europe.
For Additional Information:
A. William Stein Pamela A. Matthews
Chief Financial Officer and Investor/Analyst Information
Chief Investment Officer Digital Realty Trust, Inc.
Digital Realty Trust, Inc. (415) 738-6532
(415) 738-6500
SOURCE Digital Realty Trust, Inc.