06:29 AM EDT, 10/02/2024 (MT Newswires) -- Equinix ( EQIX ) has entered into an equity distribution agreement with Barclays Capital, BTIG, Jefferies, Mizuho Securities, MUFG Securities Americas, RBC Capital Markets, Scotia Capital, and TD Securities for the sale of shares of its common stock, the company said in regulatory filing on Tuesday.

Under terms of the agreement, the company may issue and sell shares of its common stock worth up to $2 billion.

The company said it will not initially receive any proceeds from the sale of borrowed shares but expects to receive proceeds upon future physical settlement of the relevant forward sale agreement. It intends to use the net proceeds from the offering to fund acquisitions and development opportunities, and for other general corporate purposes, including repayment of debt.