Blackstone Digital Infrastructure Trust has completed its initial public offering, selling 87.5 million shares of common stock at $20 per share to raise $1.75 billion, and the data center REIT began trading on the New York Stock Exchange under the symbol BXDC on May 14.
BXDC is managed by Blackstone, which has more than $1.3 trillion in assets under management. Net proceeds from the IPO will be invested primarily in newly constructed, income-generating stabilized data center assets in line with the REIT’s investment strategy.
The newly formed REIT is led by CEO and president Nick Pell, along with CIO Mike Forman, CFO and treasurer Tony Marone, and chief legal officer and secretary Rory Mouat.
The company also granted the underwriters a 30-day option to purchase additional shares. If fully exercised, the offering would generate gross proceeds of approximately $2 billion and result in 100.6 million outstanding shares of common stock.
