Summary
Equinix, Inc. (EQIX) filed an 8-K on November 14, 2005, detailing significant equity transactions and an underwriting agreement. The company entered into an agreement for the sale of 5,150,000 shares of common stock, with an option for underwriters to purchase an additional 739,549 shares. This transaction is set to close on November 16, 2005, subject to standard conditions. Furthermore, the filing reveals that i-STT Investments Pte. Ltd. exercised a preferred stock warrant and converted convertible notes, ultimately converting its Series A preferred stock into 3,074,919 shares of Equinix common stock. This conversion is effective November 9, 2005. The pro forma capitalization as of September 30, 2005, shows an increase in common stock and the elimination of preferred stock and preferred stock warrants post-conversion.
Key Highlights
- 1Equinix entered into an underwriting agreement to sell 5,150,000 shares of common stock.
- 2Underwriters have an option to purchase up to 739,549 additional shares for over-allotments.
- 3The sale of these shares is scheduled to close on November 16, 2005.
- 4i-STT Investments Pte. Ltd. exercised a preferred stock warrant.
- 5i-STT converted convertible notes into Series A preferred stock.
- 6i-STT converted its Series A preferred stock into 3,074,919 shares of Equinix common stock.
- 7The conversion of preferred stock is effective as of November 9, 2005, eliminating preferred stock from the pro forma capitalization.