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Stock Offerings: Digital Realty Trust

NEW YORK (TheStreet) -- Digital Realty Trust (DLR) shares lost ground during Thursday's session after the company priced its offering of common stock at a discount to Wednesday's closing price.

Digital Realty Trust said it has priced an offering of 6 million shares of common stock at $57 per share, a 3.2% discount to the closing price Wednesday of $58.91. Underwriters were granted the option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any.

Digital Realty Trust initially filed Wednesday for a 4.25 million share common stock offering. Digital Realty Trust said net proceeds of approximately $327.8 million will be used to fund a portion of the $725 million acquisition of a five-property data center portfolio currently owned by Rockwood Capital.

Shares of Digital Realty Trust were lately down 15 cents, or 0.3%, to $58.76, retracing some of Wednesday's 4.6% rise.

MF Global (MF) also announced the pricing of an offering of common shares. The futures and options broker said it priced a $160 million offering of 22.53 million shares at $7.10 per share. Underwriters were given a 30-day option to purchase up to 3.38 million additional shares of common stock.

MF Global said it will use the net proceeds from the offering to pay all fees and expenses that it incurs in connection with its proposed exchange offer for certain of its outstanding preferred and debt securities. MF Global may also elect to use all or a portion of the proceeds for the payment of a cash premium related to the exchange offer.

MF Global shares lost ground Wednesday after the company initially announced a $150 million common stock offering. Lately, MF Global shares were up 1.1% to $7.40.

Elsewhere, Middlesex Water (MSEX) announced plans for an offering of 1.7 million shares of common stock. Underwriters have a 30-day option to purchase an additional 255,000 shares of common stock to cover over-allotments, if any, the company said. The announcement pressured shares of Middlesex Water, as the stock slipped 1.1% to $17.30.

Virginia Commerce Bancorp (VCBI) shares also traded lower after the company filed late Wednesday for a $150 million mixed shelf offering.

Net proceeds of the offering will be used for general corporate purposes, which may include, subject to the approval of the Treasury and our bank regulators, the future repurchase of all or a portion of the Series A Preferred Stock and the warrant issued to the Treasury in connection with Virginia Commerce Bancorp's participation in the Capital Purchase Program.

Shares of Virginia Commerce Bancorp were down 0.9% to $6.74.

Meanwhile, Cleveland Biolabs (CBLI) said in a regulatory filing that it may sell from time to time up to $90 million in common stock. In addition, the company said selling shareholders may offer up to 632,654 shares of common stock. Shares of Cleveland Biolabs were down 1.2% to $3.30.

Similarly, Rubicon Tech (RBCN) filed for a $60 million mixed shelf offering and said selling shareholders may offer up to $40 million in common stock.

Rubicon said that net proceeds from the mixed shelf offering will be used for general corporate purposes, which may include repayment of debt, investments in or extensions of credit to our subsidiaries, repurchases of common stock, capital expenditures and the financing of possible acquisitions or business expansions. The company said it will not receive proceeds from sales by selling shareholders.

Rubicon shares were down 1.8% to $27.85.

-- Written by Robert Holmes in Boston.

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

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