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CyrusOne Inc. Upsizes and Prices Public Offering of Common Stock
|By Business Wire
|June 19, 2014 08:42 PM EDT
CyrusOne Inc. (NASDAQ:CONE) (“CyrusOne”) has priced a public offering of
13,900,000 shares of its common stock at a price to the public of $23.25
per share. The offering was upsized from the previously announced public
offering of 12,500,000 shares of common stock. All of the shares of
common stock were offered by CyrusOne. The underwriters have been
granted an option to purchase up to 2,085,000 additional shares of
common stock from CyrusOne at the public offering price, less
underwriting discounts. Subject to customary conditions, the offering is
expected to close on or about June 25, 2014.
Citigroup, BofA Merrill Lynch, Barclays, Deutsche Bank Securities and
Morgan Stanley acted as joint-bookrunners for the offering. Cantor
Fitzgerald & Co., Evercore, KeyBanc Capital Markets, Stephens Inc. and
UBS Investment Bank acted as co-managers for the offering.
CyrusOne will use the net proceeds of the offering to acquire 13,900,000
common units (or 15,985,000 common units if the underwriters exercise
their option to purchase additional shares of CyrusOne’s common stock in
full, assuming one common unit will be purchased for every share of
common stock issued by CyrusOne in the offering) of limited partnership
interests in CyrusOne’s operating partnership, CyrusOne LP, from a
subsidiary of Cincinnati Bell Inc. (“Cincinnati Bell”).
Upon completion of this offering, Cincinnati Bell will effectively own
approximately 46.9% (or approximately 43.7% if the underwriters exercise
their option to purchase additional shares of CyrusOne’s common stock in
full) 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 on a one-for-one basis.
The shares are being offered pursuant to a shelf registration statement
that has been declared effective by the Securities and Exchange
Commission (“SEC”). The offering 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, 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
CyrusOne Inc. (NASDAQ:CONE) specializes in highly reliable
enterprise-class, carrier-neutral data center properties. CyrusOne
provides mission-critical data center facilities that protect and ensure
the continued operation of IT infrastructure for approximately 630
customers, including nine of the Fortune 20 and 135 of the Fortune 1000
or private or foreign enterprises of equivalent size.
CyrusOne’s data center offerings provide the flexibility, reliability
and security that enterprise customers require and are delivered through
a tailored, customer service-focused platform designed to foster
long-term relationships. CyrusOne also offers high-performance, low-cost
data transfer and accessibility for its customers through its
interconnection platform, CyrusOne National IX, which delivers
interconnection across states and between metro-enabled sites within the
CyrusOne facility footprint and beyond. CyrusOne is committed to full
transparency in communication, management and service delivery
throughout its 25 data centers worldwide.
This release contains forward-looking statements regarding future events
and CyrusOne’s 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 CyrusOne operates and the beliefs and
assumptions of its 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 CyrusOne’s future financial performance, its anticipated
growth and trends in its 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 CyrusOne’s 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 CyrusOne files with the SEC. More
information on potential risks and uncertainties is available in
CyrusOne’s recent filings with the SEC, including CyrusOne’s Form 10-K
report and Form 8-K reports and its registration statement (No.
333-194770 on Form S-3). Actual results may differ materially and
adversely from those expressed in any forward-looking statements.
CyrusOne undertakes no obligation to revise or update any
forward-looking statements for any reason.
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