Lionbridge Announces Public Offering of Eleven Million Shares of Common Stock
WALTHAM, Mass. — Aug. 8, 2003 — Lionbridge Technologies, Inc. (Nasdaq: LIOX), a leading provider of globalization and testing services, today announced the pricing of a public offering of 11,000,000 shares of its common stock at $6.10 per share. Lionbridge increased the number of shares offered by the Company from the 7,000,000 shares previously announced to 11,000,000. All 11,000,000 shares are being offered by Lionbridge.
Lionbridge intends to use the net proceeds from the sale of its common stock to accelerate debt repayment, which will reduce the Company's interest- related expenses. The Company also intends to use the proceeds for working capital, possible acquisitions of related businesses and other general corporate purposes.
Lionbridge and certain of its stockholders have granted the underwriters an option to purchase up to 1,650,000 additional shares of common stock to cover over-allotments, with 1,340,000 shares to be offered by the Company and 310,000 shares to be offered by the stockholders.
The offering is being managed by Friedman, Billings, Ramsey & Co., Inc., and co-managed by Roth Capital Partners, LLC and Emerging Growth Equities, Ltd.
Copies of the final prospectus may be obtained from Friedman, Billings, Ramsey & Co., Inc. at Potomac Tower, 1001 19th St. North, Arlington, VA 22209.
About Lionbridge
Lionbridge Technologies, Inc. is a leading provider of globalization and testing services that enable Global 2000 organizations to confidently and cost effectively deliver products and content worldwide. Lionbridge leverages its global infrastructure and advanced language technologies to provide multilingual content management, localization, testing and development services that speed adoption, increase utilization and reduce maintenance costs of global applications and content. Based in Waltham, Mass., Lionbridge maintains facilities in Ireland, The Netherlands, France, Germany, China, South Korea, Japan, Brazil, and the United States and provides services under the Lionbridge and VeriTest brands. To learn more, visit www.lionbridge.com.