Zayo files paperwork with SEC for IPO
Last Updated: 18:57 July 2, 2014
Boulder-based Zayo, a bandwidth infrastructure provider, did not include in the filing how many shares will be sold in the offering or on which exchange the stock will be listed.
The filing said Zayo plans to use the proceeds from the offering for debt repayment and general corporate purposes, which may include acquisitions, working capital and capital expenditures, and to pay other fees and expenses incurred in connection with the offering. The company pointed out in the filing that it has spent more money than it has generated.
Zayo provides high-bandwidth infrastructure services over metro, regional and long-haul fiber networks and through interconnected data centers.
Zayo was founded in 2007 by Dan Caruso and John Scarano, former executives of Broomfield-based Level 3 Telecommunications Inc. (Nasdaq: LVLT), and has been growing through acquisitions.
The company's network connects 14,490 buildings, including 3,838 cellular towers and 527 data centers.
Zayo is backed by private equity and venture capital firms including GTCR LLC, Oak Investment Partners, M/C Partners, Columbia Capital and Charlesbank Capital Partners.
The company's revenue almost tripled to about $1 billion in 2013, but net loss widened to $137.2 million from $1.2 million a year earlier.
Zayo listed Morgan Stanley, Barclays and Goldman Sachs as lead underwriters for the IPO. Additional underwriters include RBC Capital Markets, Citigroup, SunTrust Robinson Humphrey, Cowen and Co., D.A. Davidson & Co., Oppenheimer & Co., Raymond James, Stephens Inc., Wells Fargo Securities and William Blair.
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