Limelight Networks(R) Announces Proposed Public Offering Of Common Stock

TEMPE, Ariz., Feb. 24, 2011 (GLOBE NEWSWIRE) -- Limelight Networks, Inc. (Nasdaq:LLNW) today announced that it and certain of its stockholders intend to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Jefferies & Company, Inc. and Piper Jaffray & Co. are acting as joint book-running managers for the offering.

A shelf registration statement relating to the shares was previously filed with the Securities and Exchange Commission (the "SEC") and declared effective on November 26, 2010. A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340, and at [e-mail], or from Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, at 800-747-3924.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Safe-Harbor Statement

This press release contains forward-looking statements including, without limitation, Limelight's ability to raise capital through the sale of securities under the proposed public offering. These statements involve risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including, but not limited to: changes in market conditions for its common stock; changes in operations, financial results and economic conditions that limit Limelight's ability to raise additional capital; the satisfaction of customary closing conditions; unexpected changes in Limelight's operations that impact its use of proceeds from the sale of securities under the registration statement; and other risks described in Limelight's filings with the SEC. For a detailed description of the risk factors of Limelight, please refer to the risks described in the prospectus supplement and in Limelight's most recent annual report on Form 10-K and quarterly report on Form 10-Q and other filings with the SEC. Limelight assumes no duty or obligation to update or revise any forward-looking statements for any reason.