Edgio’s Restructuring Plan Contemplates Uplynk’s Emergence as an Independent Company Wholly Owned by Lynrock Lake
Company Crosses Important Milestone in Restructuring Process with the Filing of Chapter 11 Plan on April 1
Delivers Strong Financial Performance in CY 2024 Despite Restructuring Process and is Profitable and Well-Positioned for Growth
Under the terms of Edgio, Inc.’s (“Edgio”) recently filed chapter 11 plan (the “Plan”), Lynrock Lake Master Fund LP (“Lynrock Lake”) is proposed to become sole owner of Edgio’s Uplynk business. Edgio intends to complete its restructuring process in Q2 2025, subject to the bankruptcy court’s approval of its Plan. The reorganized entity is expected to result in a focused, profitable, and reinvigorated Uplynk business dedicated to supporting its customers and delivering high-performance video workflows at scale. Uplynk’s existing customer relationships, service continuity, and platform investments will remain intact throughout the transition.
“This is a foundational moment for Uplynk,” said Eric Black, CTO of Edgio and future CEO of Uplynk. “With Lynrock’s strategic backing, we expect to emerge from this process well-positioned to drive profitable growth. Uplynk will be stronger, nimbler, and focused on investing in accelerated innovation in partnership with our customers.”
For more information, including access to court filings, please visit: https://cases.omniagentsolutions.com/home?clientId=3714
Disclaimer Regarding Solicitation of Votes
This press release is not a solicitation of votes to accept or reject the Plan. Acceptances and rejections may not be solicited until a disclosure statement regarding the Plan has been approved by the Bankruptcy Court.
Forward-Looking Statements Disclaimer
This press release contains “forward-looking statements.” A reader can identify forward-looking statements because they are not limited to historical fact or they use words such as “expects,” “estimates,” “intends,” and similar expressions that concern Edgio’s strategy, plans, intentions or beliefs about future occurrences or results, including statements regarding Edgio’s current expectations and intentions with respect to the conduct of its chapter 11 cases and the prosecution and implementation of the Plan.
Media Contact:
Matthew Kramer
matt@uplynk.com
