Edgio, Inc., a publicly traded content delivery network and edge computing company formed through the 2022 merger of Limelight Networks and Yahoo's Edgecast business, filed for Chapter 11 protection on September 9, 2024 in the District of Delaware (Case No. 24-11989) before Judge Karen B. Owens. The filing followed post-merger integration challenges, Nasdaq delisting risk tied to 2023 accounting restatements, and competitive pressures in a CDN market where the top five providers control over 60% of global traffic. Lynrock Lake LP, the prepetition secured lender, provided $15.6 million in DIP financing and served as stalking horse bidder with a $110 million credit bid. A November 14, 2024 auction produced multiple successful bidders: Akamai Technologies acquired customer contracts for $125 million, Lynrock won the Uplynk streaming platform with a $51 million credit bid, and DRNC Holdings (InterDigital) purchased the patent portfolio for $4.25 million. Additional sales to Parler Cloud Technologies ($5 million for EdgeCast CDN) and Encore Technologies (Limelight CDN) followed. A global settlement reached January 9, 2025 paved the way for consensual plan confirmation on June 13, 2025. The confirmed plan restructured $244.5 million in prepetition funded debt to $40 million (84% reduction), established the Edgio Liquidating Trust and a separate litigation trust, and transferred 100% equity in reorganized debtor Mojo Merger Sub, LLC to Lynrock Lake Master Fund LP. Uplynk emerged as an independent streaming platform company on June 30, 2025, and the cases were closed August 21, 2025.
