Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has announced the pricing of $174,400,000 aggregate principal amount of secured internet protocol version 4 ("IPv4") address revenue term notes, 6.646% series 2025-1. The notes will have an anticipated repayment term of five years and will be secured by certain of Cogent’s IPv4 addresses, customer IPv4 address leases, and customer accounts receivables.
This offering marks a significant financial move for the company, as the net proceeds will be used for general corporate purposes. The transaction is expected to close on or around April 11, 2025, subject to satisfaction of various closing conditions.
Cogent plans to offer and sell the notes in the United States only to qualified institutional buyers and institutional accredited investors under the U.S. Securities Act of 1933, as well as to certain non-U.S. persons in compliance with regulation S under the Securities Act.
The company, headquartered in Washington, D.C., is a facilities-based provider of low-cost, high-speed internet access and private network services to bandwidth-intensive businesses. Cogent’s facilities-based, all-optical IP network provides services in 264 markets globally.
These developments represent a significant financial move for Cogent Communications Holdings, Inc., as it secures funding for its operations and continues to expand its market reach. Following these announcements, the company's shares moved -5.3%, and are now trading at a price of $56.92. If you want to know more, read the company's complete 8-K report here.
