Limelight Networks, Inc., a leading provider of video delivery and edge cloud services, has announced the pricing of US$110 million aggregate principal amount of 3.5% convertible senior notes due 2025 (the notes) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The size of this offering was increased from the previously announced US$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 US$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.
Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by New York partner Greg Rodgers, with associates Aaron Franklin, Brian Yoon, and Carolina Bernal. Advice was also provided on equity derivative matters by New York partner Reza Mojtabaee-Zamani, with associates Christopher Yu, Marc Langer, Dian Yu, and Ariel Robbins-Rothman. Advice was also provided on tax matters by New York partner Elena Romanova, with associate Ron Moore; and on IP matters by New York partner Jeffrey Tochner, with associates Meredith Ward and Max Miroff.