Digital Realty Trust (DLR) Prices 10.5M Share Offering at $140/sh

Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today it has priced an underwritten registered public offering of 10,500,000 shares of its common stock for expected gross proceeds of approximately $1,470 million.

BofA Securities, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as joint-bookrunning managers for the public offering.

As part of the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 1,575,000 shares of the company's common stock. The offering is expected to close on May 10, 2024, subject to customary closing conditions.

The Company intends to contribute the net proceeds from this offering to its operating partnership, which will subsequently use the net proceeds to temporarily repay borrowings outstanding under its global revolving credit facilities, acquire additional properties or businesses, fund development opportunities, and to provide for working capital and other general corporate purposes, including potentially for the repayment of other debt or the repurchase, redemption, or retirement of outstanding debt securities, or a combination of the foregoing.

The offering is being made pursuant to an effective shelf registration statement (containing a prospectus) filed with the Securities and Exchange Commission (the "SEC"). A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, by contacting BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, by email at [email protected]; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); and J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [email protected] and [email protected].

This press 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 these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

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