Paolo Gorgo's  Instablog

• One final note related to our cash balances. As was noted on previous calls, we placed some funds in the Reserve Primary Fund, the money market fund that [inaudible] in September of 2008. During the quarter the Reserve Fund announced their intent to maintain $3.5 billion of assets to settle their legal obligations and claims. As a result, we adjusted the net anticipated recovery to $0.917 per $1 of investment.

Reserve Primary Fund and its independent trustees filed a court brief Friday, supporting the distribution of the money-market fund's remaining assets as soon as possible.

The brief also said unpaid shareholders may receive slightly more than previously anticipated: Based on revised calculations and updated data, each unpaid shareholder may receive $0.9875 per share on a pro rata basis, and possibly as much as 99 cents per share. It had previously estimated that investors would receive $0.985 per share.

Assuming that the fund is unable to recover any value for its Lehman Brothers Holdings securities, which have a face value of $785 million, remaining investors would be paid $0.9875 per share on a pro rata basis.

Shareholders could receive 99 cents per share if the fund receives 17% of par value for the Lehman securities, a figure that may reflect the current market value of the holdings, the statement said.

Internap (INAP) reported 2Q 2009 results on August, 5.

Equinix (EQIX) reported 2Q 2009 results Wednesday night (see Company’s P/R  and Seeking Alpha conference call transcripts).

Equinix (EQIX) will be reporting 2Q 2009 results on Wednesday, July 22^nd.

Company's guidance forecasts revenues in the range of $ 206 to $ 210 million (with analysts' consensus at $ 208,8 million), while EBITDA is expected between $92 and $ 94 million. Cash gross margins should be between 63% and 64%, according to Equinix, while CAPEX should range between $ 110 and $ 120 million, including about $ 20 million of ongoing CAPEX – more about Equinix expansion projects later on.

Today, Equinix (EQIX) announced its intention to further expand at 350 E. Cermak in Chicago, with a new offering (IBX shared suite) specifically targeted at the Financial Trading Companies in need for space in close proximity to its existing Financial eXchange (downtown CH1 and CH2 data centers).

The space has been leased from Digital Realty Trust (DLR):
 

On June 8^th, Equinix (EQIX) announced a $250 Million public offering of Convertible Subordinated Notes due 2016. The following day, the Company confirmed the pricing of the offering and achieving the sale of $325 Million in total (more than forecasted), plus granting an over-allotment option for up to $48.75 Million.