TEMPE, Ariz.--(BUSINESS WIRE)--
Limelight Networks, Inc. (NASDAQ: LLNW) (the “Company”), a global leader
in digital content delivery, announced today the launch of an
underwritten public offering of 15,272,493 shares of its common stock by
certain selling stockholders affiliated with The Goldman Sachs Group,
Inc. (the “Selling Stockholders”).
In addition, the Company announced that it has agreed to repurchase
1,000,000 shares of its common stock directly from the underwriter and
may, if the Company and underwriter agree, repurchase up to an
additional 527,249 shares of its common stock directly from the
underwriter, concurrently with the closing of the offering. The
underwriter may reduce the number of shares to be repurchased by the
Company in its discretion. If the Company effects the share repurchase,
the share repurchase will be effected at a price per share equal to the
price per share being paid by the underwriter to the Selling
Stockholders in the offering. The Company expects to use cash on hand to
fund the share repurchase. The closing of the share repurchase is
contingent on the closing of the offering. The closing of the offering
is not contingent on the closing of the share repurchase.
B. Riley FBR, Inc. will act as sole book-running manager for the
offering.
The offering will be made only by means of a prospectus and prospectus
supplement. You may obtain these documents for free by visiting EDGAR on
the Securities and Exchange Commission’s website at www.sec.gov.
Alternatively, the prospectus and prospectus supplement may be obtained
from B. Riley FBR, Inc., Attention: Prospectus Department, 1300 17thSt. North, Ste. 1300, Arlington, VA 22209, e-mail: prospectuses@brileyfbr.com,
telephone: 800-846-5050.
A registration statement relating to these securities has been filed
with, and declared effective by, the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Limelight
Limelight Networks, Inc., (NASDAQ: LLNW), a
global leader in digital content delivery, empowers customers to better
engage online audiences by enabling them to securely manage and globally
deliver digital content, on any device. The company’s Limelight
Orchestrate Platform includes a global infrastructure with a
fully-integrated suite of capabilities and services to help you address
all your content delivery needs. The Orchestrate Platform solves your
most important content delivery challenges so you can deliver the next
great digital experience anywhere. For more information, visit www.limelight.com,
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180301006618/en/
Limelight Networks, Inc.
Sajid Malhotra, 602-850-5000
Chief
Financial Officer
ir@llnw.com
Source: Limelight Networks, Inc.