Limelight Hikes IPO Offering Price
Content distribution network Limelight Networks Inc. (LLNW) on Wednesday raised the expected price range of its planned initial public offering to $12 to $14 per share from $10 to $12. The company said in an amended filing with the U.S. Securities and Exchange Commission that the size of the IPO is still expected to be 14.4 million shares, of which it plans to offer 11.4 million shares. Shareholders plan to offer the remainder, according to Reuters. If Limelight succeeds in selling 14.4 million at $14, it would raise $201.6 million.
Limelight’s customers include many of the world’s top media companies, including Akimbo, Belo Interactive, Brightcove, Buy.com, DreamWorks, Facebook, FOXNews.com, IFILM, MSNBC.com, MySpace, Valve Software, and Xbox Live. Limelight leases colo space from major interconenctions providers, including Equinix, Telehouse and Switch and Data.