Edgio, Inc. Adopts Tax Benefits Preservation Plan Designed to Protect the Availability of Its Tax Benefits
Move preserves long-term stockholder value by adopting a rights plan intended to protect tax assets
To be submitted for stockholder ratification at 2024 annual meeting of shareholders
Edgio, Inc. (NASDAQ:EGIO) (the "Company"), today announced that its Board of Directors (the "Board") has adopted a Tax Benefits Preservation Plan (the "Tax Plan").
The Company has significant U.S. federal and state net operating loss carryforwards ("NOLs"). As of December 31, 2023 the Company has U.S. federal NOLs of approximately $300 million that can be used to offset taxable income.
The Tax Plan is designed to protect the availability of the Company's U.S. federal and state NOLs and other tax attrib
