1
EX: 99.2
CONTACTS:
Jeff Young -- or -- Caryn Converse
617-250-3913 617-250-4661
jyoung@akamai.com converse@akamai.com
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AKAMAI TECHNOLOGIES, INC. ANNOUNCES PRICING OF $250
MILLION IN CONVERTIBLE SUBORDINATED NOTES
CAMBRIDGE, MA, JUNE 15, 2000 -- Akamai Technologies, Inc. (NASDAQ: AKAM) today
announced the pricing of its private placement of $250 million 5.50% Convertible
Subordinated Notes due 2007. The notes will be issued at 100% of the principal
amount. The offering is expected to close on June 20, 2000.
The offering is being made to qualified institutional buyers. The notes, due
July 1, 2007, are convertible into shares of Akamai common stock at any time at
a conversion price of $115.47. The convertible notes accrue interest that will
be payable semiannually.
Akamai has granted the initial purchasers of the convertible notes an option to
purchase up to an additional $50 million principal amount of notes to cover
over-allotments, if any.
This announcement is neither an offer to sell nor a solicitation of an offer to
buy any of these securities.
The notes and the common stock issuable upon conversion of the notes have not
been registered under the Securities Act of 1933, as amended (the "Securities
Act"), or any state securities laws. Unless so registered, the notes and the
common stock issuable upon conversion of the notes may not be offered or sold in
the United States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities laws.
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 customers. 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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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
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.