WASHINGTON, January 13, 2012 /PRNewswire/ -- DuPont Fabros Technology, Inc. (NYSE: DFT) today announced that it has priced, in an underwritten public offering, 2,600,000 additional shares of its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock at $25 per share as part of the reopening of the Series B Preferred Stock of which 4,050,000 shares are currently outstanding. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 390,000 shares of Series B Preferred Stock. Barclays Capital, Raymond James, Jefferies and Stifel Nicolaus Weisel acted as joint book-running managers, and KeyBanc Capital Markets acted as co-manager, 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 $62.6 million or approximately $72.0 million if the underwriters' option is exercised in full. The offering is expected to close on or about January 19, 2012, subject to customary closing conditions.
The company intends to use all of the net proceeds from this offering to repay outstanding borrowings under its $100 million revolving credit facility and for other general corporate purposes.
An automatic shelf registration statement with respect to this offering was previously filed with the Securities and Exchange Commission on November 4, 2010. 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 Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling (888) 603-5847 or emailing to Barclaysprospectus@broadridge.com; or Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, by calling (800) 248-8863, or emailing firstname.lastname@example.org. 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 technology companies to house, power and cool the computer servers which support many of their most critical business processes. DuPont Fabros Technology, Inc. is headquartered in Washington, DC.