DIGITAL REALTY TRUST, INC. 8-K Report, Corporate Update (Apr 7, 2014)

Summary

Digital Realty Trust, Inc. (DLR) filed an 8-K on April 7, 2014, to report on the completion of a public offering of its 7.375% Series H Cumulative Redeemable Preferred Stock. This offering involved the exercise of an over-allotment option for an additional 600,000 shares, generating approximately $14.5 million in net proceeds. Additionally, the company completed a separate offering of 2,000,000 shares of the same Series H Preferred Stock, yielding approximately $48.8 million in net proceeds.

Key Highlights

• 1Completion of a public offering for an additional 600,000 shares of 7.375% Series H Cumulative Redeemable Preferred Stock, resulting from the partial exercise of an over-allotment option.
• 2Net proceeds of approximately $14.5 million were raised from the exercise of the over-allotment option.
• 3Completion of an underwritten public offering of 2,000,000 additional shares of Series H Preferred Stock.
• 4Net proceeds of approximately $48.8 million were raised from the offering of the additional Series H Shares.
• 5The offerings were conducted under an effective shelf registration statement filed in April 2012 and a prospectus supplement dated April 2, 2014.
• 6An Underwriting Agreement dated April 2, 2014, involving Merrill Lynch, Pierce, Fenner and Smith Incorporated, Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC, is filed as an exhibit.
• 7An opinion of counsel from Venable LLP regarding certain Maryland law issues concerning the Series H Preferred Shares is also filed as an exhibit.

Frequently Asked Questions