QTS Realty Trust Prices Offering Of 9.35 Mln Shares At $34.75 Per Share

(RTTNews) - QTS Realty Trust, Inc. (QTS) announced the pricing of an underwritten public offering of 9.35 million shares of its Class A common stock by it and a selling stockholder at a public offering price of $34.75 per share.

The company is offering 5 million shares, which was upsized from the previously announced 4.35 million shares, and GA QTS Interholdco, LLC, the selling stockholder and an affiliate of General Atlantic LLC, is offering 4.35 million shares.

The selling stockholder has granted the underwriters a 30-day option to purchase an aggregate of up to an additional 1,402,500 shares of common stock at the public offering price.

As a result of the increase in the offering size, the company estimates that net proceeds to it, after deducting the underwriting discount and estimated offering expenses, will be about $166.0 million.

The company intends to use the net proceeds to repay amounts outstanding under its unsecured revolving credit facility and for general corporate purposes.