Millennial Media Announces Pricing of Its Follow-On Offering

Millennial Media Announces Pricing of Its Follow-On Offering

BALTIMORE--(BUSINESS WIRE)-- Millennial Media, Inc. (NYS: MM) announced today the pricing of its previously announced underwritten public offering of 10,000,000 shares of its common stock at $14.15 per share. Millennial Media is selling 921,952 of its shares of common stock. An additional 9,078,048 shares are being sold by Millennial Media stockholders. In addition, certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock.

The proceeds of the primary portion of the offering will be used for working capital and general corporate purposes. Millennial Media will not receive any proceeds from shares of common stock to be sold by the selling stockholders. As part of the underwriting procedures, Millennial Media, all selling stockholders, as well as all officers and directors, have agreed to lock-up agreements for a period of 90 days following the offering.

Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and Barclays Capital Inc. are acting as joint bookrunners for the offering. Allen & Company LLC, Stifel Nicolaus Weisel, Canaccord Genuity Inc., and Oppenheimer & Co. are acting as co-managers.

A copy of the final prospectus relating to the offering, when available, may be obtained by mail from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@morganstanley.com or by phone at (866) 718- 1649; Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by e-mail at prospectus-ny@ny.email.gs.com or by phone at (866) 471-2526; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at barclaysprospectus@broadridge.com or by phone at (888) 603-5874.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 23, 2012.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 Millennial Media

Millennial Media is the leading independent mobile advertising platform company. Our technology, tools and services help app developers and mobile website publishers to maximize their advertising revenue, acquire users for their apps and gain insight about their users. We offer advertisers significant audience reach, sophisticated targeting capabilities and the ability to deliver rich and engaging ad experiences to consumers on their mobile connected devices.

Millennial Media, Inc.
Investor Relations:
Jonathan Schaffer, 212-871-3953
IR@millennialmedia.com
or
Media Relations:
Matthew Lindberg, 203-682-8214
press@millennialmedia.com

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