Filed Pursuant to Rule 424(b)(5)
Registration No. 333-275203
Prospectus Supplement
Equinix, Inc.
$469,667,030
Common Stock
Equinix, Inc. is party to an equity distribution agreement, dated November 4, 2022. On October 27, 2023, for the sole purpose of appointing Banco Santander, S.A. as a Forward Purchaser (as defined below) and Santander US Capital Markets LLC as a Forward Seller (as defined below) under the equity distribution agreement, Equinix, Inc. entered into Amendment No. 1 to Equity Distribution Agreement (the “Amendment”) with Citigroup Global Markets Inc. (“Citigroup”), BofA Securities, Inc. (“BofA”), Deutsche Bank Securities Inc. (“DB”), Goldman Sachs & Co. LLC (“Goldman”), HSBC Securities (USA) Inc. (“HSBC”), ING Financial Markets LLC (“ING”), J.P. Morgan Securities LLC (“JPM”) and Santander US Capital Markets LLC (“Santander”) (each, a “Sales Agent”, and collectively, the “Sales Agents”), Citibank, N.A., Bank of America, N.A., Deutsche Bank AG, London Branch, Goldman, HSBC Bank USA, National Association, JPMorgan Chase Bank, National Association, New York Branch and Banco Santander, S.A. (each in its capacity as purchaser under any forward sale agreement (as described below), a “Forward Purchaser” and collectively, the “Forward Purchasers”) and Citigroup, BofA, DB, Goldman, HSBC, JPM and Santander (each, as agent for its affiliated Forward Purchaser in connection with the offering and sale of any shares of our common stock hereunder in connection with a forward sale agreement (as described below), a “Forward Seller” and collectively, the “Forward Sellers”). The Amendment did not change the maximum aggregate offering amount of the shares of our common stock that may be sold pursuant to the equity distribution agreement, which remains at $1,500,000,000, including shares of common stock that have previously been sold under the equity distribution agreement. The equity distribution agreement, as amended by the Amendment, is referred to in this prospectus supplement as the “Equity Distribution Agreement.” This prospectus supplement, together with the accompanying prospectus, relates to shares of our common stock that may be offered and sold under the Equity Distribution Agreement.
We may offer and, if applicable, sell shares of our common stock having an aggregate offering price of up to $1,500,000,000 under the Equity Distribution Agreement, including pursuant to forward sale agreements entered into pursuant to the Equity Distribution Agreement. As of immediately prior to the filing date of this prospectus supplement, we have sold 1,357,138 shares of common stock pursuant to the Equity Distribution Agreement for gross proceeds of $1,030,332,970. Shares of our common stock having an aggregate offering price of up to $469,667,030 remained unsold under the Equity Distribution Agreement and will be offered and sold under this prospectus supplement and the accompanying prospectus. Accordingly, this prospectus supplement covers the offer and sale of shares of our common stock having an aggregate offering price of up to $469,667,030 to be sold under the Equity Distribution Agreement as of the date of this prospectus supplement. Our common stock is listed on the Nasdaq Global Select Market (the “Nasdaq”) under the symbol EQIX. On March 15, 2024, the last reported sale price of our common stock on the Nasdaq was $850.39 per share.
Sales of our common stock, if any, under this prospectus supplement and the accompanying prospectus will be made by any method permitted by law including, without limitation, “at the market offerings” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the “Securities Act”) or sales made by means of ordinary brokers’ transactions. No Sales Agent is required to sell any specific amount of securities, but each Sales Agent will act as our sales agent using commercially reasonable efforts consistent with its normal trading and sales practices and applicable law and regulations, on mutually agreed terms between each Sales Agent and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.
We will pay each Sales Agent a commission at a mutually agreed rate that will not exceed, but may be lower than, 2.0% of the gross sales price of the shares of our common stock issued by us and sold through such Sales Agent as our sales agent under the Equity Distribution Agreement. In connection with the sale of the common stock on our behalf, each Sales Agent may be deemed to be an “underwriter” within the meaning of the Securities Act and the compensation paid to each Sales Agent may be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to each Sales Agent with respect to certain liabilities, including liabilities under the Securities Act or the Securities Exchange Act of 1934, as amended.
The Equity Distribution Agreement provides that, in addition to the issuance and sale of our common stock by us through the Sales Agent, we may also enter into one or more forward sale agreements under the master forward confirmation and the related supplemental confirmation between us and each of the Forward Purchasers. In connection with any forward sale agreement, the relevant Forward Purchaser will borrow from third parties and, through its affiliated Forward Seller, sell a number of shares of our common stock equal to the number of shares of our common stock underlying the particular forward sale agreement.
In connection with any forward sale agreement, the relevant Forward Seller will receive, in the form of a reduced initial forward sale price under the related forward sale agreement, commissions at a mutually agreed rate that will not exceed, but may be lower than, 2.0% of the gross sales prices of all borrowed shares of Equinix, Inc.’s common stock sold during the applicable forward hedge selling period by it as a Forward Seller.
Investing in our common stock involves risks. See “Risk Factors” beginning on page S-3 of this prospectus supplement, as well as the risks described in “Risk Factors” in our most recent Annual Report on Form 10-K, as updated by our subsequent Quarterly Reports on Form 10-Q, which are incorporated by reference into this prospectus supplement and the accompanying prospectus. Neither the U.S. Securities and Exchange Commission (the “SEC”) nor any state securities commission or other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.
| Citigroup | | | BofA Securities | |
| Deutsche Bank Securities | | | Goldman Sachs & Co. LLC | |
| HSBC | | | ING | |
| J.P. Morgan | | | Santander | |
March 18, 2024