Akamai Technologies, Inc. Announces Lock-up Release Dates
CAMBRIDGE, MA, July 14, 2000 - Akamai Technologies, Inc. (NASDAQ: AKAM) announced that in connection with the offer and sale of $300,000,000 in principal amount of its 5½% Convertible Subordinated Notes due 2007 (the "Notes"), Donaldson, Lufkin & Jenrette Securities Corporation, Morgan Stanley & Co. Incorporated, Salomon Smith Barney Inc. and Thomas Weisel Partners LLC have obtained additional stock sale restriction ("lock-up'') agreements from Akamai's top management, venture capital investors who are principal stockholders and all directors, to not sell or otherwise transfer or dispose of their Akamai Common Stock prior to August 1, 2000 and September 13, 2000. On August 1, 2000, 5% of the shares of Akamai Common Stock held by the group, or approximately 2.8 million shares, will be released from the lock-up. On September 13, 2000, approximately 58.18 million remaining shares held by the group will be released from the lock-up. The lock-up effectively extends previous lock-ups entered into by Akamai's top management, venture capital investors who are principal stockholders and its directors.
About Akamai
Akamai is the foremost provider of global, high performance services for the delivery of Internet content, streaming media, and applications, serving over 1,000 Web properties. Akamai has the broadest deployment of servers for content, streaming media, and applications delivery with more than 4,000 servers in over 45 countries directly connected to more than 160 different telecommunications networks. Akamai (pronounced AH kuh my) is Hawaiian for intelligent, clever and cool.
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, the dependence on Akamai's Internet content delivery service, a failure of its network infrastructure, the complexity of its service and the networks on which the service is deployed, the failure to obtain access to transmission capacity and other factors that are discussed in the Company's Annual Report on Form 10-K and other documents periodically filed with the SEC.
| Contacts: |
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| Jeff Young Akamai Technologies 617-250-3913 jyoung@akamai.com |
--or-- | Caryn Converse Akamai Technologies 617-250-4661 converse@akamai.com |
CAMBRIDGE, MA, July 14, 2000 - Akamai Technologies, Inc. (NASDAQ: AKAM) announced that in connection with the offer and sale of $300,000,000 in principal amount of its 5½% Convertible Subordinated Notes due 2007 (the "Notes"), Donaldson, Lufkin & Jenrette Securities Corporation, Morgan Stanley & Co. Incorporated, Salomon Smith Barney Inc. and Thomas Weisel Partners LLC have obtained additional stock sale restriction ("lock-up'') agreements from Akamai's top management, venture capital investors who are principal stockholders and all directors, to not sell or otherwise transfer or dispose of their Akamai Common Stock prior to August 1, 2000 and September 13, 2000. On August 1, 2000, 5% of the shares of Akamai Common Stock held by the group, or approximately 2.8 million shares, will be released from the lock-up. On September 13, 2000, approximately 58.18 million remaining shares held by the group will be released from the lock-up. The lock-up effectively extends previous lock-ups entered into by Akamai's top management, venture capital investors who are principal stockholders and its directors.
About Akamai
Akamai is the foremost provider of global, high performance services for the delivery of Internet content, streaming media, and applications, serving over 1,000 Web properties. Akamai has the broadest deployment of servers for content, streaming media, and applications delivery with more than 4,000 servers in over 45 countries directly connected to more than 160 different telecommunications networks. Akamai (pronounced AH kuh my) is Hawaiian for intelligent, clever and cool.
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The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, the dependence on Akamai's Internet content delivery service, a failure of its network infrastructure, the complexity of its service and the networks on which the service is deployed, the failure to obtain access to transmission capacity and other factors that are discussed in the Company's Annual Report on Form 10-K and other documents periodically filed with the SEC.
