Akamai Announces Debt Repurchases.Business Editors/High-Tech Writers CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 8, 2004 Akamai Technologies Akamai Technologies, Inc. (NASDAQ: AKAM) is a company that provides a distributed computing platform for global Internet content and application delivery, headquartered in Cambridge, Massachusetts. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AKAM AKAM Akamai Technologies, Inc. (stock abbreviation) AKAM Automated Key Access Machine ) today announced that it has repurchased, in several individually negotiated transactions, an aggregate of $99 million in principal amount of its 5 1/2% Convertible Subordinated Notes due 2007. Following these repurchases, an aggregate of $201 million in principal amount of the 5 1/2% Convertible Subordinated Notes due 2007 remains outstanding. The Company paid a total of $98.9 million in cash to certain institutional investors to repurchase and retire the Notes. As a result of the repurchases, the Company expects to realize interest savings of $5.45 million annually through June 2007. About Akamai Akamai(R) - The Business Internet, is the world's largest on demand distributed computing platform for conducting profitable e-business. Overcoming the inherent limitations of the Internet, Akamai's services ensure a high-performing, scalable, and secure environment for organizations to cost effectively extend and control their e-business infrastructure. Headquartered in Cambridge, Massachusetts, Akamai's industry-leading services, matched with world-class customer care, are used by hundreds of today's most successful enterprises and government agencies around the globe. For more information, visit www.akamai.com. Akamai Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions under The Private Securities Litigation Reform Act of 1995, including statements concerning expectations as to interest savings as a result of the repurchase of a portion of the Company's 5 1/2% Convertible Subordinated Notes due 2007. Actual results may differ materially from those indicated by these forward-looking statements as a result of factors that are discussed in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , quarterly reports on Form 10-Q Form 10-Q See 10-Q. , and other documents periodically filed with the SEC. |
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