Thursday, March 12, 2015

Zayo Group Boosts Offering Size

Boulder-based Zayo Group, which provides fiber bandwidth, colocation, and other services and infrastructure, said last night that it has boosted its secondary offering to 19,000,000 shares, up from an earlier 16,000,000 shares of its common stock that it is offering to the public. The company also said it priced the shares at $27.35 per share. The offering will net the company over $519M in proceeds, which it says it will use for acquisitions, working capital, capital expenditures and repayment of indebtedness. The upped offering is typically an indication of strong demand for a company's stock, and good reception from institutional investors.