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Basis of Presentation
6 Months Ended
Jun. 30, 2011
OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract  
Basis of Presentation

 

1. Basis of Presentation

 

The accompanying unaudited consolidated financial statements include the accounts of IntraLinks Holdings, Inc. (“IntraLinks Holdings”) and its subsidiaries (collectively, the “Company”). The consolidated financial statements included in this report have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).  Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP” or “U.S. GAAP”) have been condensed or omitted pursuant to such SEC rules and regulations.  The Company believes that the disclosures are adequate to make the information presented not misleading.  

 

On August 5, 2010, the SEC declared effective the Company's registration statement on Form S-1, as amended (File No. 333-165991), in connection with the Company's initial public offering of 11,000,000 shares of common stock, par value $0.001 per share (''Common Stock''), at a public offering price of $13.00 per share. The offering closed on August 11, 2010. Upon the closing of the initial public offering, all outstanding shares of convertible preferred stock were converted into 35,101,716 shares of Common Stock. On September 9, 2010, the Company closed the sale of an additional 980,000 shares of Common Stock at the initial public offering price of $13.00 per share pursuant to the underwriters' exercise of their over-allotment option in connection with the initial public offering. Total net proceeds received from the initial public offering, including the underwriters' exercise of the over-allotment option, were approximately $144,800 after deducting underwriters' commissions and discounts of $10,900.

 

On December 6, 2010, the SEC declared effective the Company's registration statement on Form S-1, as amended (File No.333-170694), in connection with the follow-on public offering of an additional 2,000,000 shares of Common Stock at a public offering price of $20.00 per share. Total net proceeds received from the follow-on offering, which closed on December 10, 2010, were approximately $38,000 after deducting underwriters' commissions and discounts of $2,000.

 

The Company used substantially all of the net proceeds of the initial public offering, including the sale of the underwriters' over-allotment shares, and the follow-on offering to repay a significant amount of the Company's outstanding indebtedness.

 

On April 6, 2011, the SEC declared effective the Company's registration statement on Form S-1, as amended (File No.333-173107), in connection with the Company's follow-on public offering of 1,250,000 shares of Common Stock at a public offering price of $25.50 per share, with an overallotment option of an additional 187,500 shares. The follow-on offering closed on April 12, 2011, pursuant to which a total of 1,437,500 shares were issued, inclusive of the exercise of the overallotment option by the underwriters of 187,500 shares. As a result of the offering, the Company received total net proceeds of $34,582 after deducting underwriting discounts and commissions of $1,650 and offering-related expenses of approximately $425. The Company used all of the net proceeds from the follow-on offering to prepay a portion of the amount outstanding under the Company's First Lien Credit Facility.

 

The financial statements contained herein should be read in conjunction with the Company's audited consolidated financial statements and related notes to audited consolidated financial statements included in the Company's 2010 Annual Report on Form 10-K.

 

In the opinion of management, the accompanying unaudited consolidated financial data contain all normal and recurring adjustments necessary to present fairly the consolidated financial condition, results of operations and changes in cash flows of the Company for the interim periods presented.  The Company's historical results are not necessarily indicative of future operating results, and the results for the first six months ended June 30, 2011 are not necessarily indicative of results to be expected for the full year or for any other period.