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Cincinnati Bell Inc. to Sell Common Units of Limited Partnership Interests in CyrusOne LP
|By Business Wire
|June 17, 2014 04:24 PM EDT
Cincinnati Bell Inc. (NYSE:CBB) (“Cincinnati Bell”) announced today that
it plans to enter into a purchase agreement with CyrusOne Inc.
(“CyrusOne”) to sell 12,500,000 operating partnership units (plus up to
an additional 1,875,000 operating partnership units if the underwriters
exercise their option described below) in CyrusOne’s operating
partnership, CyrusOne LP. CyrusOne announced today it had commenced the
public offering of 12,500,000 shares of its common stock and granted the
underwriters an option to purchase up to 1,875,000 additional shares,
the net proceeds of which will be used to acquire operating partnership
units from a subsidiary of Cincinnati Bell.
Upon completion of the acquisition, Cincinnati Bell expects to
effectively own approximately 49.0% (or approximately 46.1% if the
underwriters in CyrusOne’s public offering exercise their option to
purchase additional shares of CyrusOne’s common stock in full, the net
proceeds of which would be used to purchase additional operating
partnership units) 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 LP, which are exchangeable
into shares of common stock of CyrusOne.
The shares of CyrusOne’s common stock are being offered pursuant to a
shelf registration statement that has been declared effective by the
Securities and Exchange Commission (“SEC”). The offering of CyrusOne’s
common stock will be made only by means of the prospectus supplement and
accompanying prospectus. The preliminary prospectus supplement and
accompanying prospectus related to the offering has been filed with the
SEC and is available on the SEC’s website at http://www.sec.gov.
A copy of the preliminary prospectus supplement and accompanying
prospectus related to the offering may be obtained by contacting
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, by calling (800) 831-9146 or by emailing [email protected];
by contacting BofA Merrill Lynch, Attention: Prospectus Department, 222
Broadway, New York, New York 10038 or by emailing [email protected];
by contacting Barclays, c/o Broadridge Financial Solutions, 1155, Long
Island Avenue, Edgewood, New York 11717, by calling (888) 603-5847 or by
emailing [email protected];
by contacting Deutsche Bank Securities, c/o Prospectus Group, 60 Wall
Street, New York, NY 10005, by calling (800) 503-4611 or by emailing [email protected];
or by contacting Morgan Stanley, 180 Varick Street, 2nd Floor, New York,
NY 10014, Attention: Prospectus Department.
This news release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be any
sale of such 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
This release contains forward-looking statements regarding future events
and 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,” or variations of such words and similar
expressions are intended to identify such forward-looking statements. In
addition, any statements that refer to projections of future financial
performance, anticipated growth and trends in 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, including, but not limited to: the occurrence of any
event, change, or other circumstance that could give rise to the
termination or modification of any of the transaction documents; the
inability to achieve anticipated financial results; and unexpected
costs, fees, expenses and charges incurred by Cincinnati Bell related to
the transactions, any of which could cause actual results to differ
materially and adversely from those reflected in the forward-looking
statements. Other factors that could cause or contribute to such
differences include, but are not limited to, those discussed in this
release and those discussed in documents Cincinnati Bell filed 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. Cincinnati Bell undertakes no obligation to
revise or update any forward-looking statements for any reason. The
forward-looking statements included in this release represent Cincinnati
Bell estimates as of the date hereof. Cincinnati Bell anticipates that
subsequent events and developments will cause its estimates to change.
About Cincinnati Bell
With headquarters in Cincinnati, Ohio, Cincinnati Bell Inc. (NYSE:CBB)
provides integrated communications solutions including local and long
distance voice, data, high-speed 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, enterprise customers across the United States rely on CBTS, a
wholly-owned subsidiary, for efficient, scalable office communications
systems and end-to-end IT solutions. Cincinnati Bell is the majority
owner of CyrusOne (NASDAQ: CONE), which provides best-in-class data
center colocation services to enterprise customers through its
facilities with fully redundant power and cooling solutions that are
currently located in the Midwest, Texas, Arizona, London, and Singapore.
For more information, please visit www.cincinnatibell.com.
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