INAP Completes Recapitalization of Stand-Alone Cloud Business

Exits process with reduced debt and enhanced liquidity to accelerate growth

ATLANTA, Aug. 1, 2023 /PRNewswire/ -- Internap Holding LLC ("INAP" or "the Company") today announced that it has completed its restructuring and emerged from the Chapter 11 process as a clean stand-alone cloud business with a growth-oriented capital structure.

The Company is proud to complete this important step in its transformation to become a better, faster cloud business, with a strong emphasis on its bare metal platform. To support this next phase, INAP has received a significant capital infusion from its current investors to modernize its server fleet and network infrastructure, increase automation, enhance product offerings and improve customer experience.

"INAP has successfully recapitalized the business and is well positioned to leverage our top-tier service offerings. Our core cloud business now stands upon a financial structure that matches the strength of our solutions and skilled support. As we look to the future, we are excited to continue working with new and existing clients and providing the services and solutions they have come to rely on," said Michael Sicoli, President and Chief Executive Officer. "We appreciate the continued support of our investors throughout this exciting transformation."

About INAP
INAP is a global provider of secure, performance-oriented infrastructure built to serve enterprises and digital innovators alike. We bring together interconnected bare metal, security, and data protection services on a single technology platform to support customers ranging from the Fortune 500 to emerging startups. INAP operates in 11 metropolitan markets, including 8 in the US, 2 in Europe and 1 in Asia. For more information, visit www.INAP.com.

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SOURCE Internap Holding LLC