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 firstname.lastname@example.org; or from BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, New York 10038 or by email at email@example.com.
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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts