Millennial Media Announces Pricing of Its Follow-On Offering

  Millennial Media Announces Pricing of Its Follow-On Offering

Business Wire

BALTIMORE -- October 23, 2012

Millennial Media, Inc. (NYSE: 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.

Contact:

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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