Limelight Networks IPO raises $240 mln, above range
NEW YORK, June 7
NEW YORK, June 7 (Reuters) - Limelight Networks Inc., which provides digital content for traditional and emerging media companies, raised $240 million in an initial public offering on Thursday that priced above a forecast range.
The 16 million share offering priced at $15 per share, according to an underwriter.
The offering, which was expected to sell 14.4 million shares, priced higher than a forecast range of $12 to $14, which was revised on Wednesday up from $10 to $12.
Underwriters, led by Goldman Sachs & Co. and Morgan Stanley, have the option to purchase an additional 2.1 million shares to cover overallotments.
The company has been approved to list its shares on Nasdaq under the symbol "LLNW." (LLNW.O)