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Press release from GlobeNewswire (a Nasdaq OMX company)

Limelight Networks(R) Announces Pricing of Public Offering of Common Stock

Friday, February 25, 2011

Limelight Networks(R) Announces Pricing of Public Offering of Common Stock06:00 EST Friday, February 25, 2011TEMPE, Ariz., Feb. 25, 2011 (GLOBE NEWSWIRE) -- Limelight Networks, Inc. (Nasdaq:LLNW) today announced that it has priced its previously announced underwritten public offering of 10,000,000 shares of its common stock, at a price to the public of $7.10 per share. The gross proceeds to Limelight, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $71 million. The offering is expected to close on or about March 2, 2011, subject to satisfaction of various customary closing conditions. Limelight also announced it has granted the underwriters a 30-day option to purchase at the public offering price up to an additional 1,500,000 shares of its common stock to cover overallotments, if any. Jefferies & Company, Inc. and Piper Jaffray& Co. are acting as joint book-running managers for the offering. FBR Capital Markets Corporation., D.A. Davidson & Co. and Wedbush Securities Inc. are acting as co-managers for the offering. A shelf registration statement relating to the shares was previously filed with the Securities and Exchange Commission (the "SEC") and declared effective on November 26, 2010. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340, and at Prospectus_Department@Jefferies.com, or from Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, at 800-747-3924. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.Safe-Harbor Statement This press release contains forward-looking statements including, without limitation, Limelight's ability to raise capital through the sale of securities under the proposed public offering. These statements involve risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including, but not limited to: changes in market conditions for its common stock; changes in operations, financial results and economic conditions that limit Limelight's ability to raise additional capital; the satisfaction of customary closing conditions; unexpected changes in Limelight's operations that impact its use of proceeds from the sale of securities under the registration statement; and other risks described in Limelight's filings with the SEC. For a detailed description of the risk factors of Limelight, please refer to the risks described in the prospectus supplement and in Limelight's most recent annual report on Form 10-K and quarterly report on Form 10-Q and other filings with the SEC. Limelight assumes no duty or obligation to update or revise any forward-looking statements for any reason.About Limelight Networks, Inc. Limelight Networks, Inc. (Nasdaq:LLNW) provides solutions that enable business and technology decision makers to profit from the shift of content and advertising to the online world, the explosive growth of mobile and connected devices, and the migration of IT applications and services into the cloud. Over 1800 customers worldwide use Limelight's scalable software services to engage audiences, enhance brand presence, analyze viewer preferences, optimize advertising, manage and monetize digital assets, and ultimately build stronger customer relationships. Copyright (C) 2011 Limelight Networks, Inc. All rights reserved. All product or service names are the property of their respective owners.CONTACT: Paul Alfieri of Limelight Networks, Inc. +1-646-875-8835 palfieri@llnw.com