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INAP Announces Proposed Public Offering of Common Stock

RESTON, Va., Oct. 18, 2018 (GLOBE NEWSWIRE) -- Internap Corporation (NASDAQ: INAP) announced today that it is offering to sell shares of its common stock in an underwritten public offering pursuant to an effective shelf registration statement. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual terms of the offering.

Jefferies and Credit Suisse are acting as joint book-running managers for the proposed offering. In addition, INAP intends to grant the underwriters a 30-day option to purchase additional shares of common stock on the same terms and conditions as the shares offered in the public offering. All shares to be sold in the offering will be sold by INAP.  INAP intends to use the net proceeds of the offering of shares to repay the outstanding amounts under its revolving credit facility and the balance of the net proceeds for general corporate purposes, including but not limited to working capital, capital expenditures, acquisitions and other business opportunities.

A shelf registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (“SEC”). The offering is being made only by means of a written prospectus and a prospectus supplement forming a part of the effective shelf registration statement. A preliminary prospectus relating to the offering will be filed with the SEC. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained via EDGAR on the SEC’s website at www.sec.gov; by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by e-mail at prospectus_department@jefferies.com or by telephone at (877) 821-7388; or by contacting Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, 11 Madison Avenue, New York, New York, 10010, by e-mail at newyork.prospectus@credit-suisse.com or by telephone at (800) 221-1037.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale is not permitted.

About INAP

Internap Corporation (NASDAQ: INAP) is a global provider of high-performance data center services, including colocation, cloud and network. INAP partners with its customers, who range from the Fortune 500 to emerging start-ups, to create secure, scalable and reliable IT infrastructure solutions that meet the customer’s unique business requirements. INAP operates in 56, primarily Tier 3, data centers in 21 metropolitan markets and has 99 POPs around the world. INAP has over 1 million gross square feet in its portfolio, and approximately 600,000 square feet of sellable data center space.

Investor Contacts

Richard Ramlall
VP, IR & PR INAP
404-302-9982
ir@inap.com

Carolyn Capaccio/Jody Burfening
LHA
212-838-3777
inap@lhai.com

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Source: Internap Corporation