Equinix commences $1.25bn public offering of its common stock

Maria Nikolova

Equinix also confirms it is in advanced discussions with a seller to acquire selected data center sites and their operations.

Global interconnection and data center company Equinix Inc (NASDAQ:EQIX) today announced that it commenced a public offering of $1,250.0 million of its common stock. All shares of common stock to be sold in the offering will be offered by Equinix.

In addition, Equinix plans to grant the underwriters a 30-day option to purchase up to an additional $187.5 million of shares of its common stock.

The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Also today, Equinix announces that it is in advanced discussions with a seller to acquire selected data center sites and their operations. If Equinix completes the potential acquisition, it aims to use a portion of the net proceeds of the offering to fund the cost of the acquisition, and the remainder for general corporate purposes, such as repayment of indebtedness, capital expenditures and working capital.

The completion of the offering is not contingent upon the completion of the acquisition. If the acquisition is not completed, then Equinix intends to use all of the net proceeds for general corporate purposes.

Let’s recall that Equinix reported revenues of $1.445 billion for the first quarter of 2020, up from $1,417 billion in the preceding quarter and up from $1,363 billion in the first quarter of 2019.

Interconnection revenues in the first quarter of 2020 grew 14% year-over-year, or 15% on a normalized and constant currency basis, steadily rising over the last few quarters, reflecting the demand across Equinix’s portfolio of interconnection products. In the first three months of 2020, Equinix added an incremental 6,800 interconnections, fueled by content video streaming and unified communication services. ECX Fabric™ demonstrated strong growth in average revenue per user, as higher bandwidth and inter-metro connections become a larger share of the total.

Read this next

Digital Assets

Zumo launches B2B ‘Crypto-as-a-Service’ solution for brokers

The new product, Zumo Enterprise, also features an embedded ESG and net zero strategy.

Technology

Top Tools to Add to Your Trading Platform to Delight and Retain Traders

The online trading boom that started during the pandemic-led lockdowns is abating. This is in part due to sustained market volatility which seems to be discouraging new investors. For example, day trading volumes in the US for retail investors declined in the last 2 quarters of 2021.  

Technology

Embedded finance platform Alviere taps Marqeta for branded card issuance in Europe and UK

Alviere has recently raised $70 million to fuel the ongoing expansion across the European region and the United Kingdom.

Retail FX

Overcharts partners with dxFeed for CME Group Market Depth

“More and more traders are using Market Depth while conducting volume analysis. Its primary function is to help traders identify potential support and resistance levels.”

Digital Assets

CoinGecko expands collaboration with CER.live security rating

CoinGecko, one of the earliest crypto data aggregators, has integrated the security score data from the CER.live rating. The trust assessments given to crypto projects will be integrated into their pages on CoinGecko website to draw users’ attention to the importance of security.

Metaverse Gaming NFT

Klaytn taps Parity Technologies to build infrastructure for Klaytn-Substrate

Klaytn has initiated a collaboration with blockchain infrastructure company Parity Technologies to strengthen its tech stack and meet the demands of enterprises looking to harness the crypto technology.

Retail FX

US Retail FX brokers suffer steep fall in client deposits, Trading.com racked up $46K

Retail FX deposits at US brokerages, which have been struggling to eke out a profit in a strict regulatory environment, dropped in March 2022 by $35 million, CFTC data showed.

Retail FX

eToro supports Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI)

Israeli social trading network eToro has added support for trading three new tokens. Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI) are the next coins to join eToro’s list of featured digital assets.

Executive Moves

LiquidityBook hires Fintech veteran Jonathan Cross to lead EMEA business

LiquidityBook, a provider of FIX and OMS trading solutions for both the buy and sell-side, has added Jonathan Cross to its business team for the EMEA region.

<