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Flexential Closes $250 Million Debt Offering to Further Strategic Growth

OwnBackup Raises $50 Million in Series D Funding

Flexential Closes $250 Million Debt Offering to Further Strategic GrowthFlexential has announced that its parent company, Flexential Intermediate Corporation, has issued $250 million of Senior Secured Notes due 2024. Over the past two years, Flexential has experienced increased customer demand in its core markets and has added additional capacity to its data centers in response. The provider will use the net proceeds from the offering, after repaying the outstanding amount under its first-lien revolving credit facility, to support further expansion in its key markets and also fund additional investments in support of its hybrid IT solutions offering.

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Flexential provides data center colocation and hybrid IT solutions and operates 40 highly redundant and connectivity-rich data centers spanning 21 markets. The provider recently launched the first data center to globally host ONTAP AI, which is offered in the range of markets that Flexential serves. Additionally, the company’s Professional Services portfolio offers full design, implementation, and configuration support for both the user’s Flexential footprint and their interconnected, hyperscale cloud platforms, such as Google Cloud Platform, Microsoft Azure, or Amazon Web Services.

The notes and guarantees were offered and sold only to those reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, and to certain non-U.S. persons in accordance with Regulation S under the Securities Act and other applicable securities laws. The notes and the guarantees will not be registered under the Securities Act or the securities laws of any state or any other jurisdiction and may not be offered or sold in the U.S. absent an effective registration statement or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws and foreign securities laws.

In a press statement, Chief Executive Officer at Flexential, Chris Downie commented, “we are pleased that the financing provides Flexential with long-term capital to support our continued expansion. We continue to see robust demand for our connectivity-rich platform and look forward to expanding our offerings to meet market demand. 

Learn more about Flexential.

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