Digital Realty Announces Public Offering Of 10.5M Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Digital Realty (NYSE:DLR), a leading provider of data center solutions, has initiated a public offering of 10.5 million shares of common stock, with an option for underwriters to purchase an additional 1.575 million shares. BofA Securities, Citigroup Global Markets Inc., and J.P. Morgan Securities LLC are the joint book-running managers for the offering.
May 07, 2024 | 9:19 pm
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Digital Realty announces a public offering of 10.5M shares, potentially diluting current shareholders but possibly raising significant capital for expansion.
Public offerings often lead to short-term price declines due to the potential dilution of existing shares. However, the capital raised can be used for growth initiatives, which might benefit the company in the long term. The involvement of major financial institutions as managers indicates a strong market interest.
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