Cogent Communications Announces Definitive Agreement to Sell 10 Data Center Facilities

Cogent Communications (NASDAQ: CCOI) agreed to sell 10 data center facilities owned by subsidiary Cogent Fiber for an aggregate $225 million in cash to a new entity sponsored by I Squared Capital.

Rhea-AI Summary

Cogent Communications (NASDAQ: CCOI) agreed to sell 10 data center facilities owned by subsidiary Cogent Fiber for an aggregate $225 million in cash to a new entity sponsored by I Squared Capital. Closing is expected on or after June 12, 2026, subject to Hart-Scott-Rodino waiting periods.

Positive

• Definitive agreement to sell 10 data center facilities for $225 million in cash

Negative

• Transaction closing is contingent on expiration or termination of Hart-Scott-Rodino waiting period

Argus May 26 session

+9.91% close to close Open Argus

Details

News Market Reaction – CCOI

In the May 26 session, CCOI gained 9.91%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +9.9% in the session following this news. A strong positive reaction aligns with the...

Analysis

The stock moved +9.9% in the session following this news. A strong positive reaction aligns with the company’s need to reshape its balance sheet after reporting ongoing net losses and high leverage in recent filings. Monetizing 10 data centers for $225M in cash could be viewed as a meaningful step toward that goal. However, past sharp moves around earnings, insider net selling, and a history of sizeable drawdowns from the $54.37 52‑week high suggest that follow‑through would have depended on execution of the asset sale and subsequent capital allocation.

Key Figures

Purchase price: $225 million Data center facilities: 10 facilities Expected closing date: June 12, 2026

Purchase price

$225 million

Cash consideration for 10 data center facilities

Data center facilities

10 facilities

Number of data centers being sold

Expected closing date

June 12, 2026

No earlier than this date, subject to HSR waiting period

Historical Context

5 past events · Latest: May 06

5 events

1. May 06

   Conference presentations

   24h Move

   -8.1%

   CEO scheduled to present at two May 2026 investor conferences.

2. May 04

   Earnings results

   24h Move

   -29.3%

   Q1 2026 revenue decline and continued net loss reported.

3. Apr 15

   Earnings call notice

   24h Move

   +4.4%

   Announcement of timing and access details for Q1 2026 call.

4. Mar 13

   Conference presentation

   24h Move

   -4.2%

   CEO presentation at a global connectivity leaders conference.

5. Feb 23

   Multiple conferences

   24h Move

   -3.9%

   CEO scheduled for three early March 2026 investor conferences.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

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WASHINGTON, May 26, 2026 /PRNewswire/ -- Cogent Communications Holdings, Inc. ("Cogent") (NASDAQ: CCOI) today announced that its indirect wholly owned subsidiary, Cogent Fiber, LLC, has entered into a definitive agreement to sell 10 data center facilities for an aggregate purchase price of $225 million in cash to a newly formed entity sponsored by I Squared Capital. The 10 facilities are located in Phoenix, AZ, Anaheim, CA, Burbank, CA, Stockton, CA, Atlanta, GA, Chicago, IL, Elkridge, MD, Kansas City, MO, Nashville, TN and Houston, TX.

The transaction is expected to close on the later of June 12, 2026 and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

About Cogent

Cogent (NASDAQ: CCOI) is a facilities-based provider of low cost, high speed Internet access and private network services to bandwidth intensive businesses. Cogent's facilities-based, all-optical IP network provides services in 306 markets globally.

Cogent is headquartered at 2450 N Street, NW, Washington, D.C. 20037. For more information, visit www.cogentco.com. Cogent can be reached in the United States at (202) 295-4200 or via email at info@cogentco.com.

Information in this release may involve expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements, including expectations regarding the sale of the data center facilities and closing of the transaction, involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Cogent Communications Holdings, Inc. as of the date of the release, and we assume no obligation to update any such forward-looking statement. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Some of the factors and risks associated with our business are discussed in Cogent's registration statements filed with the Securities and Exchange Commission (the "SEC") and in its other reports filed from time to time with the SEC.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cogent-communications-announces-definitive-agreement-to-sell-10-data-center-facilities-302780536.html

SOURCE Cogent Communications Holdings, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Cogent Communications (NASDAQ: CCOI) announce on May 26, 2026?

Cogent Communications announced a definitive agreement to sell 10 data center facilities for $225 million in cash. According to Cogent, the buyer is a newly formed entity sponsored by I Squared Capital, with closing targeted on or after June 12, 2026.

How much is Cogent Communications selling its 10 data centers for (CCOI)?

Cogent Communications agreed to sell 10 data center facilities for an aggregate purchase price of $225 million in cash. According to Cogent, the transaction involves facilities across 10 U.S. cities and is subject to Hart-Scott-Rodino antitrust waiting period conditions.

When is the Cogent Communications (CCOI) data center sale expected to close?

The data center sale is expected to close on the later of June 12, 2026 or expiration or termination of the Hart-Scott-Rodino waiting period. According to Cogent, closing timing depends on meeting these regulatory conditions for the transaction.

Which data center locations is Cogent Communications (CCOI) selling in this $225 million deal?

Cogent Communications is selling 10 data centers located in Phoenix, Anaheim, Burbank, Stockton, Atlanta, Chicago, Elkridge, Kansas City, Nashville and Houston. According to Cogent, these facilities are being sold together for $225 million in cash to an I Squared Capital-sponsored entity.

Who is buying Cogent Communications’ 10 data centers in the 2026 transaction (CCOI)?

The 10 data centers are being sold to a newly formed entity sponsored by I Squared Capital. According to Cogent, this buyer will acquire all 10 facilities for $225 million in cash, subject to completion of Hart-Scott-Rodino antitrust review requirements.