Dallas-based CyrusOne Inc., a premier global data center REIT, has completed the full physical settlement of its previously revealed forward sale agreement entered into on September 25, 2018, relating to 2,500,000 shares of CyrusOne’s common stock.
According to a prepared statement, upon settlement, CyrusOne issued 2,500,000 shares of its common stock to Morgan Stanley & Co. LLC, in its capacity as forward purchaser, in exchange for cash proceeds of approximately $148 million, in accordance with the provisions of the forward sale agreement.
CyrusOne is a high-growth real estate investment trust specializing in highly reliable enterprise-class, carrier-neutral data center properties. CyrusOne provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including more than 205 Fortune 1000 companies.
In other recent CyrusOne news, the company recently was selected to provide colocation, interconnection, and infrastructure services by insurance and financial services leader COUNTRY Financial, a Fortune 1000 group of insurance and financial services companies based in Bloomington, IL. “With the rapid evolution of technology and certainty of continuing change in infrastructure options and strategies it became apparent that owning our own data center was no longer the most sensible option for COUNTRY Financial,” Brad Hildestad, executive vice president and chief information officer, COUNTRY Financial, said in a press release. “Outsourcing these services allows both our capital and our technologists to focus on our customers instead of infrastructure and real estate. In additional to world class infrastructure, robust interconnection, and cloud adjacency, CyrusOne’s highly secure Aurora campus offered the ability to scale in the future as our requirements either expand or contract due to growth and new technologies. We’re pleased to be working with a customer-focused, solutions-oriented partner in CyrusOne.”