DuPont FabrosTechnology Inc. said it priced an underwritten of 7 million shares of its6.625% series C cumulative redeemable perpetual preferred stock.
The offered stock has a liquidation preference of $25 pershare.
The company has granted the underwriters a 30-day option topurchase up to 1,050,000 additional shares of series C preferred stock.
Estimated proceeds expected from the offering amount to approximately$169.0 million after expenses and underwriting discount. In case of fullexercise of the underwriters' option, the net proceeds are estimated to bearound $194.4 million.
The proceeds will be used to redeem all the shares of its7.875% series A cumulative redeemable perpetual preferred stock that remainoutstanding after its previously announced redemption of 3.4 million shares on April 27.DuPont Fabros also noted that any remaining proceeds will be used to partiallyredeem the outstanding shares of its 7.625% series B cumulative redeemableperpetual mutual stock, and for other general corporate purposes.
Stifel Nicolaus & Co. Inc., Raymond James &Associates Inc., Goldman Sachs & Co. and RBC Capital Markets LLC are thejoint book-running managers for the offering.