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Cogent Announces IPv4 Address Securitization Offering
WASHINGTON, April 4, 2025 /PRNewswire/ -- Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (the "Company" or "Cogent") today announced that a
About this update from Cogent Communications Holdings, Inc.
[{"type":"text","content":"WASHINGTON, April 4, 2025 /PRNewswire/ -- Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (the \"Company\" or \"Cogent\") today announced that a special-purpose, bankruptcy remote, indirect wholly owned subsidiary of the Company has priced $174,400,000 aggregate principal amount of secured Internet Protocol version 4 (\"IPv4\") address revenue term notes, 6.646% Series 2025-1 (collectively, the \"Notes\"). The Notes will have an anticipated repayment term of five years. The Notes will be secured by certain of Cogent's IPv4 addresses, customer IPv4 address leases and customer accounts receivables.\n\n \n \n \n \n \n \n\n \nCogent intends to use the net proceeds of the offering for general corporate purposes.\nCogent expects the Notes transaction to close on or around April 11, 2025, subject to satisfaction of various closing conditions. There can be no assurance regarding the timing of closing or that the issuance and sale of the Notes will be consummated.\nThe Notes are being offered and sold in the United States only to persons reasonably believed to be \"qualified institutional buyers\" in reliance on Rule 144A under the U.S. Securities Act of 1933, as amended (the \"Securities Act\"), or certain institutional accredited investors within the meaning of Regulation D under the Securities Act, and outside the United States to certain non-U.S. persons in compliance with Regulation S under the Securities Act. The Notes have not and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from registration requirements.\nThe information in this press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the Notes or any other securities, and shall not constitute an offer to sell, solicitation of an offer to buy or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum.\nAbout Cogent Communications\nCogent (NASDAQ: CCOI) 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.\nCo...