Finance History|Nasdaq MarketSite — Twelve Dollars for Twenty Million Hub Shares
· 2000-8
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Finance History|Nasdaq MarketSite — Twelve Dollars for Twenty Million Hub Shares
kevin
People treat Equinix as a Redwood City REIT that always printed EQIX after a finished interconnection book.
The August 2000 issuer was Equinix, Inc., incorporated in Delaware on 22 June 1998 to build Internet Business Exchange halls where networks could meet.
Equinix's investor FAQ records that the company became public on 11 August 2000 and that the shares trade on Nasdaq under EQIX.
The 8 August 2000 prospectus offered 20 million new shares, with a then-current estimated range of 10 to 12 dollars. Goldman Sachs and Salomon Smith Barney led the underwriting. Nasdaq National Market quotation under EQIX had already been approved.
CNET's session report the same afternoon said the deal priced at 12 dollars, the top of that revised range. Shares traded as high as 14 dollars and closed at 13.13 dollars in 2000 currency. The company sold 20 million shares and raised 240 million dollars.
MarketWatch had recorded the earlier cut from 12.5 million shares at 15 to 17 dollars down to 20 million shares at 10 to 12 dollars after the summer air came out of infrastructure offerings.
The mechanism is a cash initial offering of a still-building interconnection operator. Holders bought construction capital for halls that were not yet a REIT. Equinix later elected REIT status.
Nasdaq MarketSite at 4 Times Square had opened on 1 January 2000. The pin is that public facade, the later street face of the electronic market that printed EQIX. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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