10:21 AM EDT, 05/08/2024 (MT Newswires) -- Digital Realty Trust ( DLR ) said Wednesday it priced a public offering of 10.5 million common shares for about $1.47 billion in expected gross proceeds.

Underwriters have a 30-day overallotment option to acquire up to about 1.6 million additional shares.

The company said it plans to contribute the net proceeds to its operating partnership, which will subsequently use the proceeds to temporarily repay borrowings outstanding under its global revolving credit facilities, among other uses.

Digital Realty ( DLR ) expects the offering to close Friday.

The company's shares were down over 2% in recent trading.

Price: 140.90, Change: -3.73, Percent Change: -2.58