QTS Realty Trust, Inc. Announces "At-The-Market" Offering Program
March 20, 2017 --
OVERLAND PARK, Kan., March 20, 2017 /PRNewswire/ -- QTS Realty Trust, Inc. (NYSE: QTS) today announced that it had established an "at-the-market" program through which it may issue and sell, from time to time, up to an aggregate of $300 million of the Company's Class A common stock, $0.01 par value per share (the "Common Stock").
Sales of the Common Stock, if any, would be made in "at-the-market" offerings as defined in Rule 415 of the Securities Act of 1933. In addition, the Common Stock may be offered and sold through privately negotiated transactions. The Company intends to use the net proceeds from these sales, if any, for general business purposes, which may include the repayment of amounts outstanding under its unsecured revolving credit facility, the acquisition of additional properties, capital expenditures, the redevelopment of properties in its portfolio, working capital and other general purposes.
Sales of the Common Stock, if any, will be made pursuant to a prospectus dated March 28, 2016 and a prospectus supplement filed with the Securities and Exchange Commission (the "SEC") on March 20, 2017, in connection with one or more offerings of shares under the automatic shelf registration statement on Form S-3 (Registration No. 333-210425) filed with the SEC on March 28, 2016. Copies of the prospectus supplement relating to the offering may be obtained by visiting EDGAR on the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In particular, statements regarding the Company's potential sales of shares of Common Stock under the at-the-market program described above and the intended use of proceeds from such sales contain forward-looking statements. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans or intentions.
The forward-looking statements contained in this press release reflect the Company's current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ significantly from those expressed in any forward-looking statement. The Company does not guarantee that the transactions and events described will happen as described (or that they will happen at all). The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: adverse economic or real estate developments in the Company's markets or the technology industry; global, national and local economic conditions; risks related to the Company's international operations; difficulties in identifying properties to acquire and completing acquisitions; the Company's failure to successfully develop, redevelop and operate acquired properties or lines of business; significant increases in construction and development costs; the increasingly competitive environment in which the Company operates; defaults on, or termination or non-renewal of leases by customers; increased interest rates and operating costs, including increased energy costs; financing risks, including the Company's failure to obtain necessary outside financing; decreased rental rates or increased vacancy rates; dependence on third parties to provide Internet, telecommunications and network connectivity to the Company's data centers; the Company's failure to qualify and maintain its qualification as a real estate investment trust; environmental uncertainties and risks related to natural disasters; financial market fluctuations; and changes in real estate and zoning laws, revaluations for tax purposes and increases in real property tax rates.
While forward-looking statements reflect the Company's good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 and other periodic reports the Company files with the Securities and Exchange Commission.
QTS Realty Trust, Inc. (NYSE: QTS) is a leading provider of secure, compliant data center, hybrid cloud and managed services. QTS features the nation's only fully integrated technology services platform providing flexible, scalable solutions for the federal government, financial services, healthcare and high tech industries. QTS owns, operates or manages more than 5 million square feet of data center space and supports more than 1,100 customers in North America, Europe and Asia Pacific. In addition, QTS' Critical Facilities Management (CFM) provides increased efficiency and greater performance for third-party data center owners and operators.
Investor Relations Contact:
Stephen Douglas, VP Investor Relations and Strategic Planning
QTS Realty Trust
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SOURCE QTS Realty Trust, Inc.
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