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Cincinnati Bell Inc. Enters into Agreement to Sell Common Units of Limited Partnership Interests in CyrusOne LPCINCINNATI --(Business Wire)-- Cincinnati Bell Inc. (NYSE:CBB) ("Cincinnati Bell") announced today that it entered into a purchase agreement with CyrusOne (News - Alert) Inc. ("CyrusOne") to sell 13,900,000 operating partnership units (plus up to an additional 2,085,000 operating partnership units if the underwriters exercise their option described below) in CyrusOne's operating partnership, CyrusOne LP, for $22.2619 per operating partnership unit. The number of operating partnership units to be sold was increased from the previously announced 12,500,000 operating partnership units. CyrusOne announced today it had priced the public offering of 13,900,000 shares of its common stock and granted the underwriters an option to purchase up to 2,085,000 additional shares, the net proceeds of which will be used to acquire operating partnership units from a subsidiary of Cincinnati Bell (News - Alert). Upon completion of the acquisition, Cincinnati Bell will effectively own approximately 46.9% (or approximately 43.7% if the underwriters in CyrusOne's public offering exercise their option to purchase additional shares of CyrusOne's common stock in full, the net proceeds of which would be used to purchase additional operating partnership units) of CyrusOne through its interests in the outstanding shares of common stock of CyrusOne and its interests in the common units of limited partnership interest of CyrusOne LP, which are exchangeable into shares of common stock of CyrusOne. The shares of CyrusOne's common stock are being offered pursuant to a shelf registration statement that has been declared effective by the Securities and Exchange Commission ("SEC (News - Alert)"). The offering of CyrusOne's common stock will be made only by means of the prospectus supplement and accompanying prospectus. The preliminary prospectus supplement and accompanying prospectus related to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. A copy of the preliminary prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by calling (800) 831-9146 or by emailing [email protected]; by contacting BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, New York 10038 or by emailing [email protected]; by contacting Barclays, c/o Broadridge Financial Solutions, 1155, Long Island Avenue, Edgewood, New York 11717, by calling (888) 603-5847 or by emailing [email protected]; by contacting Deutsche Bank Securities, c/o Prospectus Group, 60 Wall Street, New York, NY 10005, by calling (800) 503-4611 or by emailing [email protected]; or by contacting Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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