CoreSite Realty Corporation Announces Redemption of 7.25% Series A Cumulative Redeemable Preferred Stock
October 16 2017 - 4:15PM
Business Wire
CoreSite Realty Corporation (NYSE: COR), a premier provider of
secure, reliable, high-performance data center and interconnection
solutions across the U.S., today announced that it intends to
redeem all 4,600,000 outstanding shares of its 7.25% Series A
Cumulative Redeemable Preferred Stock (CUSIP: 21870Q 204) (the
“Series A Preferred Stock”).
The redemption date will be December 12, 2017 (the “Redemption
Date”). The Series A Preferred Stock will be redeemed for $25.00
per share, plus all accrued and unpaid dividends to, but not
including, the redemption date in an amount equal to $0.292014 per
share, for a total payment of $25.292014 per share (the “Redemption
Price”), which will be payable in cash, without interest, on the
Redemption Date. After the Redemption Date, Series A Preferred
Stock will no longer be outstanding and all of the rights of the
holders of Series A Preferred Stock will terminate, except the
right to receive the Redemption Price. In addition, because all of
the issued and outstanding shares of Series A Preferred Stock are
being redeemed, the Series A Preferred Stock will no longer trade
on the New York Stock Exchange after the Redemption Date. The
Series A Preferred Stock currently trades on the New York Stock
Exchange under the symbol “COR.PRA”.
The notice of redemption and related materials are being mailed
to holders of record of Series A Preferred Stock as of October 16,
2017. As specified in the notice of redemption, payment of the
applicable Redemption Price on the Redemption Date will be made
only upon presentation and surrender of the certificates
representing the Series A Preferred Stock, if any, to American
Stock Transfer & Trust Company, LLC, as redemption agent (the
“Redemption Agent”). Series A Preferred Stock held through The
Depository Trust Company will be redeemed in accordance with the
applicable procedures of The Depository Trust Company.
Questions regarding the redemption of the Series A Preferred
Stock may be directed to the Redemption Agent at:
American Stock Transfer & Trust Company, LLCOperations
Center6201 15th AvenueBrooklyn, New York 11219Attention:
Reorganization DepartmentTel.: (800) 937-5449
About CoreSite
CoreSite Realty Corporation (NYSE:COR) delivers secure,
reliable, high-performance data center and interconnection
solutions to a growing customer ecosystem across eight key North
American markets. More than 1,200 of the world’s leading
enterprises, network operators, cloud providers, and supporting
service providers choose CoreSite to connect, protect and optimize
their performance-sensitive data, applications and computing
workloads. Our scalable, flexible solutions and 430+ dedicated
employees consistently deliver unmatched data center options — all
of which leads to a best-in-class customer experience and lasting
relationships.
Forward Looking Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar
expressions concerning matters that are not historical facts. In
some cases, you can identify forward-looking statements by the use
of forward-looking terminology such as “believes,” “expects,”
“may,” “will,” “should,” “seeks,” “approximately,” “intends,”
“plans,” “pro forma,” “estimates” or “anticipates” or the negative
of these words and phrases or similar words or phrases that are
predictions of or indicate future events or trends and that do not
relate solely to historical matters. Forward-looking statements
involve known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond CoreSite's control, that
may cause actual outcomes and results to differ significantly from
those expressed in any forward-looking statement, including
statements relating to the timing and consummation of the
redemption of the Series A Preferred Stock. These risks include,
without limitation: the geographic concentration of CoreSite's data
centers in certain markets and any adverse developments in local
economic conditions or the demand for data center space in these
markets; fluctuations in interest rates and increased operating
costs; difficulties in identifying properties to acquire and
completing acquisitions; significant industry competition;
CoreSite's failure to obtain necessary outside financing;
CoreSite's failure to qualify or maintain its status as a REIT;
financial market fluctuations; changes in real estate and zoning
laws and increases in real property tax rates; and other factors
affecting the real estate industry generally. All forward-looking
statements reflect CoreSite's good faith beliefs, assumptions and
expectations, but they are not guarantees of future performance.
Furthermore, CoreSite disclaims any obligation to publicly update
or revise any forward-looking statement to reflect changes in
underlying assumptions or factors, of new information, data or
methods, future events or other changes. For a further discussion
of these and other factors that could cause CoreSite's future
results to differ materially from any forward-looking statements,
see the section entitled "Risk Factors" in CoreSite's most recent
annual report on Form 10-K, and other risks described in documents
subsequently filed by CoreSite from time to time with the
Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20171016006136/en/
CoreSite Realty CorporationGreer Aviv, 303-405-1012Vice
President of Investor Relations and Corporate
CommunicationsGreer.Aviv@CoreSite.com
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