Equinix Prices Public Offering Of $1.5 Bln Of Common Stock

(RTTNews) - Equinix Inc.(EQIX) said that it has priced an underwritten public offering of 2.25 million shares of its common stock at $665.00 per share.

In addition, Equinix has granted the underwriters a 30-day option to purchase up to an additional 337,500 shares of its common stock. The offering is expected to close on May 14, 2020, subject to customary closing conditions.

Equinix said it is currently in advanced discussions with a seller to acquire selected data center sites and their operations. If Equinix completes the Potential Acquisition, it intends to use a portion of the net proceeds of the offering to fund the cost of the Potential Acquisition, and the remainder for general corporate purposes, which could include repayment of indebtedness, capital expenditures and working capital.

If the Potential Acquisition is not completed, then Equinix intends to use all of the net proceeds for general corporate purposes.