Edgio (EGIO) Announces $66M in New Financing

Edgio, Inc. (NASDAQ: EGIO) (the “Company”), the platform of choice for speed, security, and simplicity at the edge, today announced that existing investor, Lynrock Lake Master Fund LP (“Lynrock”), has provided the Company with $66 million of new financing. Lynrock also exchanged its existing unsecured 3.5% convertible notes due 2025 for 3.5%/16% PIK secured convertible notes due 2027. Following these transactions, Edgio is in a stronger financial position, enabling the Company to build on the solid momentum underway and continue executing its strategic plan.

“We appreciate Lynrock’s ongoing support and alignment with our strategy and vision. These transactions will provide us with the additional financial flexibility to expand our capabilities and scale,” said Bob Lyons, President and CEO of Edgio. “Our business transformation remains on track, and we continue to execute against our key strategic objectives. We look forward to continuing to deliver world-class solutions to our customers and partners.”

Additional details of the will be filed filed in an 8-K with the Securities and Exchange Commission.

Advisors

Milbank LLP is serving as Edgio’s legal counsel and J.P. Morgan Securities LLC and PJT Partners are serving as financial advisors.

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