DENVER, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Cologix, a leading network-neutral interconnection and hyperscale edge data center company in North America, today announced it has secured $1.5 billion USD in capital through a combination of debt and equity financing to fuel its next phase of strategic growth.
The capital raises include a $1.0 billion USD revolving multi-asset development debt facility and an additional $500 million USD in equity from both new and existing investors. The debt facility is structured to provide Cologix with the flexibility to add new sites over time, offering quick access to capital to fund development projects as needed. Both the debt and equity raises received strong investor demand and were oversubscribed, underscoring their confidence in Cologix’s proven business model, growth potential and ability to execute on its strategic initiatives.
"This is a significant milestone for Cologix and demonstrates the continued trust of our investors, both new and existing," said Scott Schneider, CFO of Cologix. "The combination of debt and equity financing provides us with the flexibility and capital to keep pace with the growing demand for digital infrastructure, particularly as AI, hybrid cloud and interconnection requirements expand. This financing ensures we can continue to scale and deliver on our customers’ needs in a dynamic market."
This infusion of capital will accelerate Cologix’s expansion of AI-ready data centers across key North American markets, enabling the company to meet its growing customer demand for high-density, low-latency infrastructure in a rapidly evolving digital landscape. Cologix plans to use the capital to support the ongoing build out of large-scale campuses in its core markets, including Ashburn, Columbus and Montréal, as well as begin new builds on recently acquired land in Columbus, Des Moines and Vancouver, which upon full build out can support over 650 critical megawatts of sellable capacity.
The $1.5 billion USD in financing announced today follows the company’s successful $1.13 billion USD and $1.07 billion CAD asset-backed securitizations since 2021 as well as a $3.0 billion USD equity recapitalization in 2022, positioning Cologix for sustained growth.
For more information about Cologix and its growing platform of highly connected, AI-ready data centers, visit https://cologix.com/ai/
About Cologix Inc.
Cologix provides carrier- and cloud-neutral hyperscale edge data centers and services in 12 markets across North America. Cologix is the interconnection hub for cloud service providers, carriers and a rich ecosystem of partners who want to deploy applications at the very edge across Canada and the U.S. With a growing portfolio of next generation facilities that meet the unique requirements for hyperscale growth with deep connectivity, Cologix offers massive scale and tailor-made data center solutions to accelerate its customers’ businesses at the digital edge. For on-demand connectivity for scale and control, Cologix Access Marketplace provides fast, reliable, self-service provisioning. For a tour of one of our data centers in Ashburn, Columbus, Dallas, Des Moines, Jacksonville, Lakeland, Minneapolis, Montréal, New Jersey, Silicon Valley, Toronto or Vancouver visit Cologix or email. Follow Cologix on LinkedIn and Twitter.
Media Contact for Cologix:
Shifali Erasmus, Crackle PR
Cologix@cracklepr.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff91548d-e5db-4eac-9928-88f432b6da90
