The funds were raised through the issuance of 88,148,880 new shares at 108.0p per share and will be used to scale the company’s digital infrastructure investment program.
According to Digital 9, its investment objective is to invest in a range of assets that contribute to a reliably functioning internet. This involves investing in scalable, non-legacy and future-proof technologies and platforms, including data centers, tower infrastructure, submarine fiber, terrestrial fiber and cellular networks such as 5G .
Trading in the new shares is expected to begin tomorrow (January 28). After admission, the issued share capital of the company will amount to 810,629,500 shares, with voting rights.
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“The company continues to make significant progress in building a diverse portfolio of sustainability-focused digital infrastructure assets, whether it’s the environmental credentials of the Verne Global data center platform or of the increased connectivity provided by Aqua Comms and the new EMIC-1 submarine cable,” said Jack Waters, President of Digital 9.
“We very much appreciate the continued support of our shareholders and new investors, especially in the current volatile market, and we look forward to reporting on the deployment of these funds, as well as our planned debt financing, in due course.” , he added.
Akur is acting as the company’s financial advisor, while JP Morgan Securities is the global coordinator and bookrunner on the offering.
The company, which after its March 2021 IPO raised £845m in equity, has so far focused its investment efforts on data centres, fiber networks and wireless networks.
Its activities adhere to the United Nations Sustainable Development Goal 9, as the investment activity contributes to the construction of resilient infrastructure, promotes inclusive and sustainable industrialization and fosters innovation.