Akamai Announces Proposed Shelf Registration
CAMBRIDGE, Mass. -- January 18, 2001 - Akamai Technologies, Inc. (NASDAQ: AKAM), the leading Content Delivery Service Provider (CDSP), announced today that it intends to file a universal shelf registration statement with the Securities and Exchange Commission. Once the registration statement has been declared effective by the SEC, Akamai will be able to sell up to $500 million of equity or debt securities in one or more public offerings over the next two years. The registration is expected to provide flexibility and efficiency in accessing the public securities markets, although Akamai has no immediate plans to do so.
"Although we believe that Akamai is fully-funded today to achieve our business plan with our current cash position and available vendor financing, we are taking the additional strategic step of filing a shelf registration to maximize our flexibility to respond to new opportunities that might present themselves in the future," said George H. Conrades, chairman and CEO of Akamai. Additional information about Akamai's business will be discussed during the company's quarterly investor conference call next Wednesday, January 24 at 4:15 p.m. EST. The call can be accessed through the Web at www.akamai.com/ir.
About Akamai
Akamai is the leading Content Delivery Service Provider, serving over 2,800 customers, including more than 1,325 recurring customers under contract worldwide. Akamai has the broadest deployment of servers for content, streaming media, and applications delivery with more than 8,000 servers in 54 countries directly connected within more than 460 different telecommunications networks.
Akamai Statement Under the Private Securities Litigation Reform Act
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 services, including FreeFlow and FreeFlow Streaming, availability of vendor financing, issues arising in connection with the closing of the Company's books for the fourth quarter, any inability of Akamai to access capital markets, a failure of its network infrastructure, the complexity of its service and the networks on which the service is deployed, a decline in demand for our services due to general economic conditions, 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.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The Akamai securities being registered pursuant to the shelf registration may not be sold nor may offers to buy be accepted prior to the time the registration statement has become effective.
| Contacts: |
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| Steven J. Wolfe Investor Relations Akamai Technologies 617-250-4724 swolfe@akamai.com |
--or-- | Jeff Young Media Relations Akamai Technologies 617-250-3913 jyoung@akamai.com |
CAMBRIDGE, Mass. -- January 18, 2001 - Akamai Technologies, Inc. (NASDAQ: AKAM), the leading Content Delivery Service Provider (CDSP), announced today that it intends to file a universal shelf registration statement with the Securities and Exchange Commission. Once the registration statement has been declared effective by the SEC, Akamai will be able to sell up to $500 million of equity or debt securities in one or more public offerings over the next two years. The registration is expected to provide flexibility and efficiency in accessing the public securities markets, although Akamai has no immediate plans to do so.
"Although we believe that Akamai is fully-funded today to achieve our business plan with our current cash position and available vendor financing, we are taking the additional strategic step of filing a shelf registration to maximize our flexibility to respond to new opportunities that might present themselves in the future," said George H. Conrades, chairman and CEO of Akamai. Additional information about Akamai's business will be discussed during the company's quarterly investor conference call next Wednesday, January 24 at 4:15 p.m. EST. The call can be accessed through the Web at www.akamai.com/ir.
About Akamai
Akamai is the leading Content Delivery Service Provider, serving over 2,800 customers, including more than 1,325 recurring customers under contract worldwide. Akamai has the broadest deployment of servers for content, streaming media, and applications delivery with more than 8,000 servers in 54 countries directly connected within more than 460 different telecommunications networks.
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Akamai Statement Under the Private Securities Litigation Reform Act
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 services, including FreeFlow and FreeFlow Streaming, availability of vendor financing, issues arising in connection with the closing of the Company's books for the fourth quarter, any inability of Akamai to access capital markets, a failure of its network infrastructure, the complexity of its service and the networks on which the service is deployed, a decline in demand for our services due to general economic conditions, 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.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The Akamai securities being registered pursuant to the shelf registration may not be sold nor may offers to buy be accepted prior to the time the registration statement has become effective.
