Friday January 21, 10:16 am Eastern Time
Digital Island files to offer shares, notes
NEW YORK, Jan 21 (Reuters) - Digital Island Inc. (NasdaqNM:ISLD - news), which
provides a private network to support companies' electronic business efforts, said on Friday
it filed with the U.S. Securities and Exchange Commission to offer 4.5 million common
shares and $175 million worth of convertible subordinated notes.
The company, which said it will use the proceeds for general corporate purposes, plans to offer 3.5 million of the shares, with
the rest being sold by stockholders. The price to the public has not been determined yet, the company said in a statement.
Digital Island granted the underwriters the right to purchase up to 675,000 shares of common stock to cover over-allotments, if
any.
Goldman Sachs & Co., Bear Stearns & Co, Inc., Lehman Bros., Merrill Lynch & Co., Thomas Weisel Partners, and Dain
Rauscher Wessels will manage the stock offering. All of the firms except Dain Rauscher Wessels will manage the notes offering.
Shares of Digital Island were down 7/8 at 79-1/8 in early Friday trading on the Nasdaq stock market.
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