Akamai Technologies Inc. today said it expects to raise $208 million in gross proceeds from a public offering of 12 million shares of its common stock. The company based its estimates on yesterday’s $17.34 per share closing sale price for its common stock.
Akamai has granted the underwriter a 30-day option to purchase up to 1.8 million additional shares of common stock to cover any over-allotments. Akamai expects the issuance and delivery of the shares to occur on Thursday.
Deutsche Bank Securities Inc. serves as the underwriter for the offering.
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