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2006-09-18
Web Host, Audio-Video Firm, VitalStream, Applies for Secondary Public Offering
Irvine, California - September 18, 2006 - Audio and video streaming firm, VitalStream Holdings, Inc., has filed a registration statement with the Securities and Exchange Commission for a proposed offering of its common stock. Proceeds of the offering will be used for additional network build out, expansion of its international presence, advertising services sales force and marketing programs, working capital and general corporate purposes.
Cowen and Company will act as sole bookrunning manager for the proposed offering, and Merriman Curhan Ford and Co., ThinkEquity Partners LLC and Canaccord Adams Inc. will act as co-managers. Of the total shares offered, 5,000,000, are expected to be sold by the company,with 3,950,000 to be sold by selling stockholders. VitalStream will not receive any proceeds from the sale of shares by the selling stockholders. In addition, the underwriters have an option to purchase up to 1,342,500 additional shares from the company and the selling stockholders to cover overallotments.
A registration statement relating to the securities intended to be sold has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. When available, a preliminary prospectus relating to these securities may be obtained from Cowen and Company at Prospectus Department, 1221 Avenue of the Americas, New York, NY 10020.
VitalStream, Inc., a wholly owned subsidiary of VitalStream Holdings, Inc., is a global provider of integrated content delivery services that endeavors to enable businesses to broadcast digital media and communications to worldwide audiences via the Internet. The company provides complete solutions, including video and audio streaming, advertising placement, delivery, reporting and analysis, live event broadcasting, media asset management, integrated web hosting and consulting services, designed to seamlessly integrate with leading streaming media technologies. VitalStream engineered its content delivery network certified for quality delivery in the United States, Europe and Asia. VitalStream's customer base includes streamers of audio and video content, including Disney and Myspace.com. Notable new customers added during the second quarter of 2006 include Greyhound, the United Nations, Microsoft Prodigy, Buy.com, QuePasa, Home Depot and Gillette.
To learn more, please visit: www.vitalstream.com.
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