WASHINGTON, May 10, 2016 (GLOBE NEWSWIRE) — DuPont Fabros Technology, Inc. (the “Company”) (NYSE:DFT) today announced it has priced an underwritten public offering of 7,000,000 shares of its 6.625% Series C Cumulative Redeemable Perpetual Preferred Stock (“Series C Preferred Stock”) with a liquidation preference of $25 per share. The Company also granted the underwriters of the offering a 30-day option to purchase up to an additional 1,050,000 shares of Series C Preferred Stock. Dividends for the Series C Preferred Stock will be cumulative from the date of original issuance and payable quarterly on or about the 15th day of each February, May, August and November, beginning on August 15, 2016, at a rate of 6.625% per annum of its liquidation preference, which is equivalent to $1.65625 per annum per share.   

The Company estimates that the net proceeds from this offering, after the underwriting discount and estimated offering expenses payable by the Company, will be approximately $169.0 million, or approximately $194.4 million if the underwriters’ option is exercised in full. The offering is expected to close on or about May 17, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering to redeem all of the shares of the Company’s 7.875% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Stock”) that remain outstanding following the Company’s previously announced redemption on May 27, 2016 of 3,400,000 shares of Series A Preferred Stock and to use any remaining net proceeds to redeem a portion of the outstanding shares of the Company’s 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock and for other general corporate purposes.

Stifel, Nicolaus & Company, Incorporated, Raymond James & Associates, Inc., Goldman, Sachs & Co. and RBC Capital Markets, LLC will serve as joint book-running managers for the offering.