DigitalBridge Announces Partial Redemption of 7.125% Series H Cumulative Redeemable Perpetual Preferred Stock
October 18 2021 - 8:00AM
Business Wire
DigitalBridge Group, Inc. (NYSE: DBRG) (“DigitalBridge” or the
“Company”) today announced that it is redeeming 2,560,000 shares
(the “Redeemed Shares”), representing approximately 22.3% of the
11,500,000 issued and outstanding shares of 7.125% Series H
Cumulative Redeemable Perpetual Preferred Stock (NYSE: DBRG.PrH)
(the “Series H Preferred Shares”) with a total liquidation
preference of $64,000,000.
“With this latest redemption, we will have reduced our preferred
stock outstanding by over $140 million since July,” said Jacky Wu,
CFO of DigitalBridge. “We look forward to continuing to drive
corporate cash flows by reducing our effective cost of capital as
we leverage the strong growth in our investment management and
operating platforms.”
The Redeemed Shares will be redeemed at a cash redemption price
of $25.00 per share, plus any accrued and unpaid dividends (whether
or not declared) to, but not including, the redemption date of
November 15, 2021 (the “Redemption Date”). Dividends on the
Redeemed Shares will cease to accrue on the Redemption Date. Upon
redemption, the Redeemed Shares will no longer be outstanding, and
all rights of the holders of such shares will terminate, except the
right of the holders to receive the cash payable upon such
redemption, without interest.
All shares of Series H Preferred Shares are held in book-entry
form through the Depository Trust Company (“DTC”). The Redeemed
Shares will be redeemed in accordance with the procedures of DTC.
Payment to DTC for the Redeemed Shares will be made by American
Stock Transfer & Trust Company, LLC, as redemption agent (the
“Redemption Agent”).
The address for the Redemption Agent is as follows:
American Stock Transfer & Trust Company, LLC 6201 15th
Avenue Brooklyn, New York 11219 Attn: Reorganization Department
This press release does not constitute a notice of redemption
under the Company’s Articles of Amendment and Restatement governing
the Series H Preferred Shares.
About DigitalBridge
DigitalBridge (NYSE: DBRG) is a leading global digital
infrastructure REIT. With a heritage of over 25 years investing in
and operating businesses across the digital ecosystem including
cell towers, data centers, fiber, small cells, and edge
infrastructure, the DigitalBridge team manages a $35 billion
portfolio of digital infrastructure assets on behalf of its limited
partners and shareholders. Headquartered in Boca Raton,
DigitalBridge has key offices in Los Angeles, New York, London, and
Singapore.
Cautionary Statement regarding Forward-Looking
Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar
expressions concerning matters that are not historical facts. In
some cases, you can identify forward-looking statements by the use
of forward-looking terminology such as “may,” “will,” “should,”
“expects,” “intends,” “plans,” “anticipates,” “believes,”
“estimates,” “predicts,” or “potential” or the negative of these
words and phrases or similar words or phrases which are predictions
of or indicate future events or trends and which do not relate
solely to historical matters. Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond our control, and may cause
actual results to differ significantly from those expressed in any
forward-looking statement. Factors that might cause such a
difference include, without limitation, the Company’s ability to
continue to execute its digital transformation and other risks and
uncertainties, including those detailed in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2020, Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2021 and June
30, 2021, and its other reports filed from time to time with the
U.S. Securities and Exchange Commission. All forward-looking
statements reflect the Company’s good faith beliefs, assumptions
and expectations, but they are not guarantees of future
performance. The Company cautions investors not to unduly rely on
any forward-looking statements. The forward-looking statements
speak only as of the date of this press release. The Company is
under no duty to update any of these forward-looking statements
after the date of this press release, nor to conform prior
statements to actual results or revised expectations, and the
Company does not intend to do so.
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version on businesswire.com: https://www.businesswire.com/news/home/20211018005278/en/
Investors: Severin White Managing Director, Head of Public
Investor Relations severin.white@digitalbridge.com (212)
547-2777
Media: Joele Frank, Wilkinson Brimmer Katcher Julie Hamilton /
Jon Keehner dbrg-jf@joelefrank.com (212) 355-4449
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