Zayo Group Prices 21.05 Mln Shares IPO At $19 A Share

(RTTNews) - Zayo Group Holdings, Inc. (ZAYO), a provider of comprehensive Bandwidth Infrastructure services, announced late Thursday the pricing of its initial public offering of 21.05 million shares of its common stock at a price to the public of $19.00 per share.

The company is offering around 16.01 million shares of common stock and selling stockholders are offering 5.04 million shares. The shares are expected to begin trading on October 17 on the New York Stock Exchange under the ticker symbol "ZAYO."

The company said the underwriters have a 30 day option to purchase from the selling stockholders up to an additional 3,026,371 shares of common stock.

The company intends to use the net proceeds of the offering for general corporate purposes, including the redemption of certain outstanding indebtedness, acquisitions, working capital, and capital expenditures.

Morgan Stanley, Barclays, and Goldman, Sachs & Co. acted as lead book-running managers and representatives of the underwriters for the offering. RBC Capital Markets, Citigroup and SunTrust Robinson Humphrey acted as joint book-running managers for the offering.