Well, the total amount of shares offered was 40.25M for net proceeds of $57.05M (The underwriters apparently felt that the $1.50 price was good and exercised their option to buy the extra 5.25M shares.<g>)
Internap Announces Completion of Public Offering
Wednesday March 3, 1:39 pm ET
Underwriters Exercise Option to Purchase Additional 5.25 Million Shares
ATLANTA--(BUSINESS WIRE)--March 3, 2004--Internap Network Services Corporation (AMEX: IIP - News), a provider of high-performance, managed Internet connectivity solutions to business customers, announced today that it has completed the public offering of a total of 40,250,000 shares of its common stock at a price of $1.50 per share. The estimated net proceeds to Internap after deduction of underwriting discounts and commissions but before expenses are $57.05 million, which includes the underwriters' election of an option to purchase an additional 5,250,000 shares to cover over-allotments.
All of the shares of common stock were offered pursuant to a registration statement previously filed with the Securities and Exchange Commission and declared effective in February 2004. SG Cowen acted as sole book-runner and CIBC World Markets acted as co-lead manager on this offering. Thomas Weisel Partners LLC, Jefferies & Company, Inc. and Needham & Company, Inc. acted as co-managers of the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. |
