Summary
Equinix, Inc. (EQIX) filed an 8-K on October 9, 2015, to disclose details regarding a special distribution declared by its Board of Directors on September 28, 2015. This distribution, valued at approximately $627.0 million, is payable to stockholders of record as of October 8, 2015, and is expected to be paid on November 10, 2015. The distribution is offered as either common stock or cash, at the election of each stockholder. This special distribution is expected to be approximately $10.95 per share. Stockholders have the option to elect to receive their portion of the distribution entirely in common stock or entirely in cash, up to a maximum cash payout of $125.4 million. Any amount exceeding this cash limit will be distributed in common stock. Election materials have been distributed by Computershare Investor Services, with an election deadline of November 2, 2015.
Key Highlights
- 1Equinix declared a special distribution of $627.0 million to be paid on November 10, 2015.
- 2The distribution is valued at approximately $10.95 per share of common stock.
- 3Stockholders of record as of October 8, 2015, are eligible for the distribution.
- 4Shareholders can elect to receive their distribution in either common stock or cash.
- 5The total cash payable is capped at a maximum of $125.4 million; excess will be paid in stock.
- 6The election deadline for shareholders is November 2, 2015.
- 7Detailed election materials and forms have been distributed by Computershare Investor Services.