Equinix Announces Pricing of Secondary Offering of Common Stock by STT Communications
November 10 2005 - 8:00AM
Business Wire
Equinix, Inc. (Nasdaq:EQIX), the leading provider of
network-neutral data centers and Internet exchange services, today
announced pricing of the underwritten secondary offering to the
public by STT Communications, through its affiliates, of 5.15
million shares of Equinix Common Stock at the public offering price
of $35.64 per share. STT Communications has granted to the
underwriters an option to purchase up to 739,549 additional shares
of Equinix Common Stock to cover over-allotments, if any. The
offering is expected to close on November 16, 2005 subject to
customary closing conditions. Concurrently with the offering, STT
Communications also entered into a pre-paid forward contract with
Credit Suisse First Boston Capital LLC to sell up to an additional
4.3 million shares of Equinix Common Stock; an affiliate of Credit
Suisse First Boston Capital LLC intends to publicly offer
securities exchangeable for the Equinix Common Stock agreed to be
purchased pursuant to the pre-paid forward contract. The Company
will not receive any proceeds from the transactions. The secondary
offering of Equinix Common Stock is being made through an
underwriting syndicate led by Citigroup Global Markets Inc. and
Credit Suisse First Boston LLC, as joint bookrunners, and Goldman,
Sachs & Co. as co-manager. The exchangeable offering is being
made through an underwriting syndicate led by Credit Suisse First
Boston LLC as bookrunner, with Citigroup Global Markets Inc. and
Goldman, Sachs & Co. acting as co-managers. Interested parties
may obtain a written prospectus relating to the common stock
offering from Citigroup, Brooklyn Army Terminal, 140 58th Street,
8th floor, Brooklyn, New York 11220 or Credit Suisse First Boston
LLC, Prospectus Department, One Madison Avenue, New York, NY 10010.
Interested parties may obtain a written prospectus relating to the
exchangeable securities offering from Credit Suisse First Boston
LLC, Prospectus Department, One Madison Avenue, New York, NY 10010.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation,
or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
Offers to sell any security will be made only by means of a
prospectus. About Equinix Equinix is the leading global provider of
network-neutral data centers and Internet exchange services for
enterprises, content companies, systems integrators and network
services providers. Through the company's Internet Business
Exchange(TM) (IBX(R)) centers in 11 markets in the U.S. and Asia,
customers can directly interconnect with every major global network
and ISP for their critical peering, transit and traffic exchange
requirements. These interconnection points facilitate the highest
performance and growth of the Internet by serving as neutral and
open marketplaces for Internet infrastructure services, allowing
customers to expand their businesses while reducing costs. This
press release contains forward-looking statements that involve
risks and uncertainties. Actual results may differ materially from
expectations discussed in such forward-looking statements. Factors
that might cause such differences include, but are not limited to,
the challenges of acquiring and operating IBX centers and
developing, deploying and delivering Equinix services; a failure to
receive significant revenue from customers in recently-acquired
data centers; a failure to complete our contemplated financing
arrangements; competition from existing and new competitors; the
ability to generate sufficient cash flow or otherwise obtain funds
to repay new or outstanding indebtedness; the loss or decline in
business from our key customers and other risks described from time
to time in Equinix's filings with the Securities and Exchange
Commission. In particular, see Equinix's recent quarterly and
annual reports and registration statement on Form S-3 filed with
the Securities and Exchange Commission, copies of which are
available upon request from Equinix. Equinix does not assume any
obligation to update the forward-looking information contained in
this press release. Equinix and IBX are registered trademarks of
Equinix, Inc. Internet Business Exchange is a trademark of Equinix,
Inc.
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