Company Release - 05/13/2010 08:00
WASHINGTON, May 13 /PRNewswire-FirstCall/ -- DuPont Fabros Technology, Inc. (NYSE:DFT, news, filings) today announced that it has priced, in an underwritten public offering, 12,000,000 shares of common stock at $23.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,800,000 shares of common stock to cover overallotments, if any. KeyBanc Capital Markets, Raymond James, Macquarie Capital, RBC Capital Markets and Jefferies & Company acted as joint book-running managers, and Stifel Nicolaus & Company, Incorporated and TD Securities acted as co-managers, for this offering.
The Company estimates that the net proceeds from this offering, after the underwriting discount and estimated offering expenses payable by the Company, will be approximately $264.9 million or approximately $304.6 million if the underwriters' overallotment option is exercised in full. The offering is expected to close on or about May 18, 2010, subject to customary closing conditions.
The Company intends to use all of the net proceeds from this offering plus borrowings under its revolving credit facility and a portion of its cash and cash equivalents balance as of March 31, 2010 to complete development of the first phase of its data center in Santa Clara, CA known as SC1, and to completely develop the first phase of its data center in Ashburn, VA known as ACC6.
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 KeyBanc Capital Markets, Attn: Prospectus Delivery Department, 127 Public Square, 6th Floor, Cleveland, OH 44114 or by calling (216) 689-0421; 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 the 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.
Contact: Christopher Warnke, Manager, Investor Relations of DuPont Fabros Technology, Inc., +1-202-478-2330