DigitalBridge Completes One-For-Four Reverse Stock Split
BOCA RATON, Fla.--(BUSINESS WIRE)--Aug. 23, 2022-- DigitalBridge Group, Inc. (“DigitalBridge” or the “Company”) (NYSE:DBRG) announced today that it has completed the previously announced reverse stock split of DBRG common stock at a ratio of 1-for-4, with a proportionate reduction in the outstanding shares of its common stock (the “Reverse Stock Split”).
The Reverse Stock Split is intended to reinforce the completion of the Company’s successful business transformation, more closely align DigitalBridge’s outstanding share count with companies of similar size and scope, and generate additional administrative cost savings, consistent with management’s ongoing initiatives to simplify and rationalize the Company.
As a result of the Reverse Stock Split, the number of outstanding shares of Class A common stock and Class B common stock of the Company were reduced to approximately 163.9 million shares and 0.2 million shares, respectively. Each stockholder’s percentage ownership in the Company and proportional voting power remains unchanged after the Reverse Stock Split, except for minor changes resulting from the payment of cash for fractional shares and rounding of certain equity-based awards granted under the Company’s equity incentive plan (the “Plan”). Outstanding DBRG equity-based awards and shares or share units under the Plan were proportionately adjusted. The rights and privileges of stockholders are otherwise unaffected by the Reverse Stock Split.
DBRG common stock will begin trading on a split-adjusted basis when the New York Stock Exchange opens on August 23, 2022 and will continue trading on the New York Stock Exchange under the symbol “DBRG”, with a new CUSIP number 25401T 603. American Stock Transfer & Trust Company LLC, the company’s transfer agent, is acting as exchange agent for the Reverse Stock Split. DBRG shareholders do not need to take any action in connection with the reverse stock split.
Additional details concerning the reverse stock split are contained in a Current Report on Form 8-K filed by the Company with the U.S. Securities and Exchange Commission.
About DigitalBridge Group, Inc.
DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $48 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in New York, Los Angeles, London, and Singapore. For more information, visit: www.digitalbridge.com.
Cautionary Statement Regarding Forward-Looking Statements
This release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include whether Company will realize the anticipated benefits of the Reverse Split, including administrative cost savings, and other risks and uncertainties, including those detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022, and its other reports filed from time to time with the U.S. Securities and Exchange Commission (“SEC”). All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. The Company cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this current report. The Company is under no duty to update any of these forward-looking statements after the date of this release, nor to conform prior statements to actual results or revised expectations, and the Company does not intend to do so.
Managing Director, Head of Public Investor Relations
Joele Frank, Wilkinson Brimmer Katcher
Jon Keehner / Aura Reinhard