Digital 9 Infrastructure launches placing with £200m target

Digital 9 Infrastructure launches placing with £200m target – Digital 9 Infrastructure (DGI9) has launched a placing of new ordinary shares at a price of 107.5 pence per ordinary share pursuant to the terms of its existing placing programme. It is targeting gross proceeds of approximately £200m, which could be exceeded subject to demand, to be issued under the existing placing programme.

The placing price of 107.5 pence per ordinary share represents a discount of 8.7% to the closing price of 117.8 pence per ordinary share on 3 September 2021 and a 4% premium to the 30 June 2021 NAV of 103.34 pence. The new shares will rank pari passu with existing ordinary shares, including the right to receive dividends and distributions declared after admission of the new ordinary shares.

The net proceeds of the placing will be used to acquire further assets in line with the company’s investment objective, identified in its pipeline of investment opportunities, as set out in the prospectus. TDGI9 currently has an immediate pipeline of over £670m of investment opportunities, of which £167m is under exclusivity or non-competitive and which the manager anticipates completing on over the next two months.

The pipeline includes a further six data centre investments opportunities with an aggregate value of approximately £188m, including a premier metro data centre based in the UK for which the company has secured exclusivity. The manager has also identified a 12 month pipeline of c. £1.85bn of operational opportunities.

The placing comes after the company raised £300m at its IPO in March this year, and a further £175m via an oversubscribed placing conducted pursuant to the placing programme on 8 June 2021.

Expected Timetable (subject to change)

DGI9 – Digital 9 Infrastructure launches placing with £200m target