Akamai Announces Results of Tender Offer for a Portion of Its 5 1/2% Convertible Notes.Business Editors/High-Tech Writers CAMBRIDGE, Mass.--(BUSINESS WIRE)--March 24, 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: AKAM AKAM Akamai Technologies, Inc. (stock abbreviation) AKAM Automated Key Access Machine ) today announced the results of its "Modified Dutch Auction Dutch Auction An auction where the price on an item is lowered until it gets its first bid, and then the item is sold at that price. Notes: The U.S. Treasury (and other countries) uses a Dutch auction when it sells securities. " cash tender offer for up to $101 million in aggregate principal amount of its outstanding 5 1/2% Convertible Subordinated Notes due 2007. The offer expired at 9:00 a.m., Eastern time, on March 24, 2004. In accordance with the terms of its offer, Akamai has accepted for payment $39,878,000 in aggregate principal amount of the notes, which constitute all of the notes validly tendered and not withdrawn, including $4,005,000 in principal amount of notes subject to satisfactory delivery of notes tendered by notice of guaranteed delivery. Akamai will purchase the notes at a purchase price of $1,012.50 per $1,000 of principal amount of the notes. The purchase price applies to all notes validly tendered and accepted for payment pursuant to the offer. The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, L.P. acted as dealer manager, Citigate Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. acted as the information agent, and U.S. Bank National Association is acting as the depositary in connection with the offer. About Akamai Akamai(R) is the global leader in distributed computing (1) The use of multiple computers networked throughout a wide geographical area, or the world via the Internet, in order to solve a single problem. See grid computing. (2) The use of multiple computers in an enterprise rather than one centralized system. solutions and services, making the Internet predictable, scalable, and secure for conducting profitable e-business. The Akamai on demand platform enables customers to easily extend their Web operations - with full control - anywhere, anytime, without the cost of building out infrastructure. Headquartered in Cambridge, Massachusetts, Akamai serves hundreds of today's most successful enterprises and government agencies around the globe. Akamai is The Business Internet. For more information, visit www.akamai.com. |
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