Market Overview

Millennial Media Closes Follow-on Offering of 11.5M Shares

Millennial Media (NYSE: MM) today announced that it has closed its
previously announced follow-on offering of shares of its common stock
and that the underwriters have exercised their option to purchase an
additional 1,500,000 shares of common stock. As a result, the total
follow-on offering size was 11,500,000 shares, which consisted of
921,952 shares sold by Millennial Media and 10,578,048 shares sold by
selling stockholders. The net proceeds to Millennial Media from its sale
of 921,952 shares were approximately $12.4 million after deducting
underwriting discounts and commissions. Millennial Media did not receive
any proceeds from the sale of shares by the selling stockholders.

Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and Barclays Capital Inc.

See full press release

Posted-In: News Guidance Management

 

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