The Telx Group, Inc. announced its intention to go public through an initial public offering of up to $100 million of common stock. The New York-based company said it will apply to list its common stock on The Nasdaq Global Market under the symbol "TELX"
Telx is a provider of network neutral, global interconnection and colocation solutions in the United States. The company had 763 customers and 28,272 total physical interconnections within its 15 facilities as of December 31, 2009.
Telx said it intends to use this offering net proceeds for capital expenditures, working capital and general corporate purposes.
For the year ended December 31, 2009, the company posted net loss of $9.92 million, versus loss of $31.38 million. Revenues for 2009 rose to $98.34 million from $70.04 million in 2008.
GI Partners Fund II, L.P., and GI Partners Side Fund II, L.P. each hold a notable stake in the company.
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