Company Website:
http://www.cincinnatibell.com
CINCINNATI -- (Business Wire)
Cincinnati Bell Inc. (NYSE:CBB) (“Cincinnati Bell”) announced today that
it entered into a purchase agreement with CyrusOne Inc. (“CyrusOne”) to
sell 12,400,000 operating partnership units (plus up to an additional
1,860,000 operating partnership units if the underwriters exercise their
option described below) in CyrusOne’s operating partnership, CyrusOne
LP, for $29.8752 per operating partnership unit. The number of operating
partnership units to be sold was increased from the previously announced
12,200,000 operating partnership units. CyrusOne announced today it had
priced the public offering of 12,400,000 shares of its common stock and
granted the underwriters an option to purchase up to 1,860,000
additional shares, the net proceeds of which will be used to acquire
operating partnership units from two subsidiaries of Cincinnati Bell.
Upon completion of the acquisition, Cincinnati Bell will effectively own
approximately 24.5% (or approximately 21.7% if the underwriters in
CyrusOne’s public offering exercise their option to purchase additional
shares of CyrusOne’s common stock in full, the net proceeds of which
would be used to purchase additional operating partnership units) of
CyrusOne through its interests in the outstanding shares of common stock
of CyrusOne and its interests in the common units of limited partnership
interest of CyrusOne LP, which are exchangeable, at CyrusOne’s election,
into shares of common stock of CyrusOne.
The shares of CyrusOne’s common stock are being offered pursuant to a
shelf registration statement that has been declared effective by the
Securities and Exchange Commission (“SEC”). The offering of CyrusOne’s
common stock will be made only by means of the prospectus supplement and
accompanying prospectus. The preliminary prospectus supplement and
accompanying prospectus related to the offering has been filed with the
SEC and is available on the SEC’s website at http://www.sec.gov.
A copy of the preliminary prospectus supplement and accompanying
prospectus related to the offering may be obtained by contacting
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717 or by calling (800) 831-9146; Morgan Stanley,
180 Varick Street, 2nd Floor, New York, New York 10014, Attention:
Prospectus Department; Barclays, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New York 11717, by calling (888)
603-5847 or by emailing Barclaysprospectus@broadridge.com;
Deutsche Bank Securities, Attention: Prospectus Group, 60 Wall Street,
New York, New York 10005-2836, by calling (800) 503-4611 or by emailing prospectus.cpdg@db.com;
Goldman, Sachs & Co., 200 West Street, New York, New York 10282,
Attention: Prospectus Department, by calling (866) 471-2526 or by
emailing prospectus-ny@ny.email.gs.com;
or J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, Attention: Prospectus Department, by
calling (866) 803-9204 or by emailing prospectus-eq_fi@jpmchase.com.
This news release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be any
sale of such securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Safe Harbor
This release contains forward-looking statements regarding future events
and results that are subject to the “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995. All statements, other
than statements of historical facts, are statements that could be deemed
forward-looking statements. These statements are based on current
expectations, estimates, forecasts, and projections about the industries
in which we operate and the beliefs and assumptions of our management.
Words such as “expects,” “anticipates,” “predicts,” “projects,”
“intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,”
“endeavors,” “strives,” “may,” or variations of such words and similar
expressions are intended to identify such forward-looking statements. In
addition, any statements that refer to projections of future financial
performance, anticipated growth and trends in businesses, and other
characterizations of future events or circumstances are forward-looking
statements. Readers are cautioned these forward-looking statements are
based on current expectations and assumptions that are subject to risks
and uncertainties, including, but not limited to: the occurrence of any
event, change, or other circumstance that could give rise to the
termination or modification of any of the transaction documents; the
inability to achieve anticipated financial results; and unexpected
costs, fees, expenses and charges incurred by Cincinnati Bell related to
the transactions, any of which could cause actual results to differ
materially and adversely from those reflected in the forward-looking
statements. Other factors that could cause or contribute to such
differences include, but are not limited to, those discussed in this
release and those discussed in documents Cincinnati Bell filed with the
SEC. More information on potential risks and uncertainties is available
in our recent filings with the SEC, including Cincinnati Bell’s Form
10-K report, Form 10-Q reports and Form 8-K reports. Actual results may
differ materially and adversely from those expressed in any
forward-looking statements. Cincinnati Bell undertakes no obligation to
revise or update any forward-looking statements for any reason. The
forward-looking statements included in this release represent Cincinnati
Bell estimates as of the date hereof. Cincinnati Bell anticipates that
subsequent events and developments will cause its estimates to change.
About Cincinnati Bell
With headquarters in Cincinnati, Ohio, Cincinnati Bell Inc. (NYSE:CBB)
provides integrated communications solutions – including local and long
distance voice, data, high-speed Internet and video – that keep
residential and business customers in Greater Cincinnati and Dayton
connected with each other and with the world. In addition, enterprise
customers across the United States rely on CBTS, a wholly-owned
subsidiary, for efficient, scalable office communications systems and
end-to-end IT solutions. Cincinnati Bell effectively owns 44 percent of
CyrusOne (NASDAQ: CONE), which is held in the form of CyrusOne common
stock and CyrusOne LP partnership units. CyrusOne specializes in highly
reliable enterprise-class, carrier-neutral data center properties and
provides mission-critical data center facilities that protect and ensure
the continued operation of IT infrastructure for more than 665
customers, including nine of the Fortune 20 and 144 of the Fortune 1000
companies or private or foreign enterprises of equivalent size. For more
information, please visit www.cincinnatibell.com.
Contacts:
Cincinnati Bell Inc.
Investor contact:
Josh Duckworth,
513-397-2292
Joshua.Duckworth@cinbell.com
or
Media
contact:
Jane Weiler, 513-397-9941
Jane.Weiler@cinbell.com
Source: Cincinnati Bell Inc.
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