CyrusOne IPO: The data center facilities provider filed its IPO registration filing with the SEC recently for a maximum aggregate offering price of $300 million.
The company intends to publicly trade its common stock under the symbol “CONE.” The company did not disclose which exchange to list its common stock and the specific number of the shares that will be sold in the deal, as well as CyrusOne IPO price range in the prospectus.
Net proceeds from the sale of common stock in CyrusOne IPO are planned to be contributed to the company’s operating partnership in exchange for operating partnership units. The operating partnership will use a portion of the net proceeds to repay indebtedness and fund future acquisitions, development and redevelopment capital expenditures and general working capital.
CyrusOne Inc provideds data center facilities that protect and ensure the continued operation of IT infrastructure to customers. The company grew its revenue from $35.3 million in 2007 to $181.7 million in 2011, representing a GAGR of 38.74%. Operating income increased from $4.8 million to $38 million during this period, representing a GAGR of 51.27%. Net income experienced a roller coaster from $1.8 million in 2007 to $6.1 million in 2009, then to $1.5 million in 2011.
Morgan Stanley & Co. LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as the lead underwriters for CyrusOne IPO. Deutsche Bank Securities Inc. and Barclays Capital Inc. are also working as the co-managers on this deal.