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

TEMPE, Ariz., Feb. 25, 2011 (GLOBE NEWSWIRE) -- Limelight Networks, Inc. (Nasdaq:LLNW) today announced that it has priced its previously announced underwritten public offering of 10,000,000 shares of its common stock, at a price to the public of $7.10 per share. The gross proceeds to Limelight, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $71 million. The offering is expected to close on or about March 2, 2011, subject to satisfaction of various customary closing conditions. Limelight also announced it has granted the underwriters a 30-day option to purchase at the public offering price up to an additional 1,500,000 shares of its common stock to cover overallotments, if any.

Jefferies & Company, Inc. and Piper Jaffray& Co. are acting as joint book-running managers for the offering. FBR Capital Markets Corporation., D.A. Davidson & Co. and Wedbush Securities Inc. are acting as co-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 has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, 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.