Millennial Media Closes Follow-on Offering of 11.5M Shares

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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.

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