8-KOther EventsExhibits & Filings

DIGITAL REALTY TRUST, INC. 8-K Report, Corporate Update (Apr 9, 2013)

Filed April 9, 2013For Securities:DLRDLR-PJDLR-PKDLR-PL

Summary

Digital Realty Trust, Inc. (DLR) filed a Form 8-K on April 9, 2013, to report the successful completion of an underwritten public offering of 10,000,000 shares of its 5.875% Series G Cumulative Redeemable Preferred Stock. This offering, which included the exercise of a portion of the underwriters' over-allotment option, generated net proceeds of approximately $241.5 million after deducting fees and expenses. This capital raise strengthens DLR's balance sheet and provides additional liquidity. The company utilized its effective shelf registration statement and accompanying prospectus supplement for this issuance. Investors should note the specific details of the Series G Preferred Stock, including its fixed dividend rate of 5.875% and its cumulative redeemable nature, which offer a predictable income stream and potential for future redemption.

Key Highlights

  • 1Completed public offering of 10,000,000 shares of 5.875% Series G Cumulative Redeemable Preferred Stock.
  • 2Net proceeds of approximately $241.5 million raised from the offering.
  • 3Over-allotment option of 1,000,000 shares was partially exercised by underwriters.
  • 4Proceeds will enhance liquidity and strengthen the company's financial position.
  • 5Offering was conducted under an existing shelf registration statement and prospectus supplement.
  • 6Key documents filed include the Underwriting Agreement and counsel's opinion on the Series G Preferred Stock.

Frequently Asked Questions

The primary purpose of this Form 8-K filing was to report the successful completion of Digital Realty Trust's underwritten public offering of its 5.875% Series G Cumulative Redeemable Preferred Stock and to provide details regarding the net proceeds received.

Digital Realty Trust raised approximately $241.5 million in net proceeds from the offering after accounting for underwriting discounts and other expenses.

The Series G Cumulative Redeemable Preferred Stock carries a fixed dividend rate of 5.875% and is described as cumulative and redeemable, suggesting a stable income component for investors and potential future redemption by the company.

The underwriters for this offering were Merrill Lynch, Pierce, Fenner and Smith Incorporated, Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC, acting as representatives of the several underwriters.