March 4, 2004 -- (WEB HOST INDUSTRY REVIEW) -- Internap Network Services Corporation (internap.com) announced on Thursday that it has completed the public offering of 40,250,000 shares of its common stock at a price of $1.50 per share. The company, a provider of performance-based routing services, said the estimated net proceeds of the offering, after discounts and commissions but before expenses, are $57.05 million.
In addition, Internap said it will grant the underwriters the option to purchase an additional 5,250,000 shares to cover over-allotments.
All the shares of common stock were offered pursuant to a registration statement previously filed on January 13, 2004, with the Securities and Exchange Commission and declared effective in February 2004. Internap confirmed it public offering plans last week.
