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CyrusOne Inc. Commences Initial Public Offering of Common Stock
|By Business Wire
|January 8, 2013 07:17 AM EST
Cincinnati Bell Inc. (NYSE:CBB) announced today that CyrusOne Inc., its
wholly owned subsidiary that owns and operates Cincinnati Bell’s data
center business, has commenced the initial public offering of 16,500,000
shares of its common stock. All of the shares of common stock are being
offered by CyrusOne. The estimated price range for the initial public
offering is $16.00 to $18.00 per share. The underwriters will be granted
an option to purchase up to 2,475,000 additional shares of common stock
from CyrusOne at the initial public offering price, less underwriting
discounts and commissions. CyrusOne has applied to list its common stock
on the NASDAQ Global Select Market under the symbol “CONE.”
Upon completion of this offering, Cincinnati Bell expects to effectively
own approximately 71.6% of CyrusOne through its interests in the
outstanding shares of common stock of CyrusOne and its interests in the
common units of limited partnership interest of CyrusOne’s operating
partnership, CyrusOne LP, which are exchangable into shares of common
stock of CyrusOne.
Morgan Stanley & Co. LLC and BofA Merrill Lynch are acting as
joint-bookrunners for the offering. The offering will be made only by
means of a prospectus. A copy of the preliminary prospectus may be
obtained from Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by
telephone at +1 (866) 718-1649 or by email at [email protected];
or from BofA Merrill Lynch, Attention: Prospectus Department, 222
Broadway, New York, New York 10038 or by email at [email protected].
A registration statement relating to these securities has been filed
with the SEC but has not yet become effective. These securities may not
be sold, nor may offers to buy be accepted, prior to the time the
registration statement becomes effective. This news release shall not
constitute an offer to sell, or the solicitation of an offer to buy,
these securities, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
This release contains forward-looking statements regarding future events
and our future results that are subject to the “safe harbor” provisions
of the Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical facts, are statements that could be
deemed forward-looking statements. These statements are based on current
expectations, estimates, forecasts, and projections about the industries
in which we operate and the beliefs and assumptions of our management.
Words such as “expects,” “anticipates,” “predicts,” “projects,”
“intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,”
“endeavors,” “strives,” “may,” variations of such words and similar
expressions are intended to identify such forward-looking statements. In
addition, any statements that refer to projections of our future
financial performance, our anticipated growth and trends in our
businesses, and other characterizations of future events or
circumstances are forward-looking statements. Readers are cautioned
these forward-looking statements are based on current expectations and
assumptions that are subject to risks and uncertainties, which could
cause our actual results to differ materially and adversely from those
reflected in the forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to, those
discussed in this release and those discussed in other documents we file
with the SEC. More information on potential risks and uncertainties is
available in our recent filings with the SEC, including Cincinnati
Bell’s Form 10-K report, Form 10-Q reports and Form 8-K reports. Actual
results may differ materially and adversely from those expressed in any
forward-looking statements. We undertake no obligation to revise or
update any forward-looking statements for any reason.
About Cincinnati Bell Inc.
With headquarters in Cincinnati, Ohio, Cincinnati Bell Inc. (NYSE:CBB)
provides integrated communications solutions – including local, long
distance, data, Internet, entertainment and wireless services – that
keep residential and business customers in Greater Cincinnati and Dayton
connected with each other and with the world. In addition, Cincinnati
Bell provides best-in-class data center colocation services to its
enterprise customers through its facilities with fully redundant power
and cooling solutions that are currently located in the Midwest, Texas,
London and Singapore. Complementing the colocation products, Cincinnati
Bell also offers complex information technology solutions like managed
services and technology staffing.
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