Boingo Wireless plans new debt financing for buyout by Digital Colony

By Sara Rosenberg

New York, March 1 – Boingo Wireless Inc. has received a commitment for debt financing to help fund its acquisition by Digital Colony Management LLC, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Truist Securities Inc., TD Securities (USA) LLC and CIT Bank are the joint lead arrangers and bookrunners on the deal.

Other funds for the transaction will come from equity.

Under the agreement, Boingo is being bought for $14.00 per share in cash, in a transaction valued at about $854 million, including the assumption of $199 million of Boingo’s net debt obligations.

Closing is expected in the second quarter, subject to the receipt of Boingo shareholder approval, regulatory approvals and other customary conditions.

Boingo is a Los Angeles-based distributed antenna system and Wi-Fi provider.

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