Boulder-based Zayo Group files for follow-on offering of up to $500M

BOULDER — Broadband infrastructure provider Zayo Group Holdings Inc. on Tuesday announced that the company has filed for a follow-on public stock offering that seeks to raise up to $500 million.

The offering will include shares owned both by the company and selling stockholders, including members of senior management. However, a form S-1 filed with the Securities and Exchange Commission did not specify the number of shares to be sold or the offering price per share.

Zayo would receive proceeds only from the sale of the company-owned shares. The company stated in a press release that the proceeds from the sale would be used for “general corporate expenses, which may include the redemption of certain outstanding indebtedness, acquisitions, working capital, and capital expenditures.”

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Zayo, founded in 2007, went public in October. The initial public offering brought in $400 million for the company and selling stockholders. The company’s portion of those proceeds was about $282 million.

Zayo’s stock price has climbed more than 50 percent since going public for $19 per share. The price closed at $29.75 Tuesday, down 22 cents from the previous day’s close.