Limelight Networks Prices USD 110M Offering of Convertible Senior Notes

Limelight Networks, Inc. (Nasdaq: LLNW), a provider of video delivery and edge cloud services, has announced the pricing of USD 110 million aggregate principal amount of 3.50% convertible senior notes due 2025 (the “notes”) in a private offering, the company said.

The size of this offering was increased from the previously announced USD 100 million aggregate principal amount of notes. In connection with the offering of the notes, Limelight granted the initial purchasers of the notes a 13-day option to purchase up to an additional USD 15 million aggregate principal amount of notes. The sale of the notes is expected to settle on July 27, 2020, subject to customary closing conditions.

The notes will bear interest at a rate of 3.50% per year, payable semi-annually in arrears on February 1 and August 1 of each year, beginning on February 1, 2021. The notes will mature on August 1, 2025, unless repurchased, redeemed or converted prior to such date. Prior to May 1, 2025, the notes will be convertible only upon satisfaction of certain conditions and during certain periods. On and after May 1, 2025, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date.

Limelight Networks, a provider of digital content delivery, video, cloud security, and edge computing services, empowers customers to provide exceptional digital experiences. Limelight´s edge services platform includes a unique combination of global private infrastructure, intelligent software, and expert support services that enable current and future workflows.