Finance History | 11 Wall Street — Twelve Dollars for Twenty Million Machine Rooms
· 2004-11
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Finance History | 11 Wall Street — Twelve Dollars for Twenty Million Machine Rooms
kevin
People treat Digital Realty as an Austin data-center REIT that always printed DLR.
The 2004 issuer was a Maryland corporation formed that March to hold technology buildings contributed by GI Partners.
A Form 424(b)(4) priced 20,000,000 common shares at 12.00 dollars a share. Gross proceeds were 240 million dollars in 2004 currency. The underwriting discount was 0.75 dollars a share. Delivery was on or about 3 November 2004 on the New York Stock Exchange under DLR.
The company's investor FAQ records the 28 October 2004 pricing and, with the overallotment, about 21.4 million shares and about 257 million dollars of gross proceeds.
A contemporaneous GI Partners completion notice dated 4 November 2004 put the base deal at 20,000,000 shares and 240.0 million dollars of gross proceeds.
The mechanism is an UPREIT formation IPO. Holders bought a listed vehicle for machine-room real estate, not a cloud software book.
The pin is the Broad Street facade of the Exchange, where DLR still prints. Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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