Intermedia Announces Launch of Initial Public Offering

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Mar 23, 2021, 06:18 ET

SUNNYVALE, Calif., March 23, 2021 /PRNewswire/ -- Intermedia Cloud Communications, Inc. ("Intermedia") today announced that it has launched the roadshow for the initial public offering of 12,244,898 shares of its common stock. The offering consists of 10,204,082 shares offered by Intermedia and 2,040,816 shares to be sold by Intermedia's sole shareholder. The underwriters will have a 30-day option to buy an additional 1,836,734 shares of Intermedia's common stock from the selling shareholder at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $23.00 and $26.00 per share. The shares are expected to trade on the Nasdaq Global Select Market under the symbol "INTM."

Morgan Stanley and J.P. Morgan are acting as lead book-running managers for the proposed offering. Credit Suisse, Evercore ISI and Jefferies are acting as joint book-running managers for the proposed offering, and William Blair, KeyBanc Capital Markets, TD Securities, Stephens Inc. and Loop Capital Markets are acting as co-managers for the proposed offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at [email protected].

A registration statement relating to these securities 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 an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Intermedia Cloud Communications, Inc.

Intermedia is the cloud communications company that helps over 122,000 businesses connect better – through voice, video conferencing, chat, contact center, business email and productivity, file sharing and backup, security, archiving, and more – from wherever, whenever. We strive to eliminate the need for multiple communications service providers with a seamlessly integrated portfolio of communications and collaboration solutions – all delivered through one highly reliable and secure platform. With month-to-month contract options, one monthly bill, one intuitive point of administrative control, and five-years running J.D. Power-certified 24/7 technical support, Intermedia is committed to providing enterprise-grade products to businesses of all sizes through a simple, Worry-Free Experience™.

As a partner-first company, Intermedia goes to work for over 7,000 channel partners by providing a comprehensive set of programs, resources, and support to help them grow their revenue and maximize their success. Programs include our Customer Ownership Reseller model (CORE™) – which enables partners to resell, package and manage Intermedia's solutions as if they were their own, while benefiting from highly attractive economic terms and maintaining ownership of their customer relationships – as well as agent models. Intermedia is also proud to be the exclusive cloud communications platform provider for NEC, a leader in global market share for unified communications with and estimated 80+ million installed business phone users worldwide.

For more information about Intermedia, visit www.intermedia.com.

Contacts:

Media Contacts:
Darcy Mekis	Katie Creaser
Intermedia	ICR for Intermedia
[email protected]	[email protected]

Investor Contact:
Marc Griffin
[email protected]