Paul Hastings Advises the Underwriters in Blackstone Digital Infrastructure Trust’s Up to $2 Billion IPO

Paul Hastings LLP advised the underwriters in Blackstone Digital Infrastructure Trust’s (NYSE: BXDC) $1.75 billion initial public offering of 87.5 million shares of its common stock at a price to the public of $20.00 per share. The company has granted the underwriters a 30-day option to purchase additional shares, which, if exercised in full, would increase gross proceeds from the offering to $2 billion.

The offering is the third-largest U.S. REIT IPO in history.

Blackstone Digital Infrastructure Trust is a newly organized company focused on acquiring and owning mission-critical data center assets that power the modern digital economy.  BXDC is externally managed by an affiliate of Blackstone (NYSE: BX), the world’s largest alternative asset manager and the largest financial investor in data center and digital infrastructure assets globally.

Goldman Sachs & Co., Citigroup, Morgan Stanley, Barclays, BofA Securities, Deutsche Bank Securities, J.P. Morgan, RBC Capital Markets and Wells Fargo Securities acted as joint lead book-running managers in the syndicate of 29 underwriters.

Partner Scott Chase led the Paul Hastings team, which included corporate associates Kimberly McKenzie, Mary Day Royston, Gaby Jassir and Tyler Penta advising on securities matters. Partner Chris Mangin led the tax team, which included associates Elaine Lee and Kelsey Massey. Of counsel Jacqueline May advised on FINRA matters.

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