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Flexential® Closes $250 Million Debt Offering in Support of Its Continued Strategic Growth

Funds provided through the issuance of $250 million in Senior Secured Notes

02 / 5 / 2020
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CHARLOTTE, N.C. – February 5, 2020 – Flexential Corp. (“Flexential”), a leading provider of data center colocation and hybrid IT solutions, today announced that its parent, Flexential Intermediate Corporation, issued $250 million of Senior Secured Notes due 2024. Flexential (created in August 2017 following the merger of Peak 10 and ViaWest) operates 40 highly redundant and connectivity-rich data centers spanning 21 markets. Over the last two years, the company has experienced robust customer demand in its core markets and has added additional capacity in response. Flexential will utilize the net proceeds from the offering, after repaying the entire amount outstanding under its first lien revolving credit facility, to support continued expansion in its key markets as well as to fund additional investments in support of its hybrid IT solutions offering.

“We are pleased that the financing provides Flexential with long-term capital to support our continued expansion,” said Chris Downie, Chief Executive Officer, Flexential. “We continue to see robust demand for our connectivity-rich platform and look forward to expanding our offerings to meet market demand.”

The notes and the guarantees were offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act and other applicable securities laws. The notes and the guarantees will not be registered under the Securities Act or the securities laws of any state or any other jurisdiction and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws and foreign securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes and related guarantees, nor shall there be any sales of the Senior Secured Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Use of Forward-Looking Statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements.

About Flexential

Flexential offers flexible and essential services that help organizations optimize their journey of IT transformation while simultaneously balancing cost, scalability, compliance and security. The company, co-headquartered in Charlotte and Denver, is committed to building trusted relationships and delivering tailored solutions that suit the individual needs of its customers. Flexential is deeply invested in the success of its customers, who trust it to deliver core data center solutions of colocation and connectivity, as well as, cloud, managed solutions and professional services. Flexential’s robust suite of assets spans 21 markets and comprises 40 highly redundant and connectivity-rich data centers. For more information on Flexential, please visit Flexential is a registered trademark of the Flexential Corp.

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