Internap Corporation (NasdaqGS:INAP) (‘INAP’) entered into purchase and sale agreement to acquire membership interest of SingleHop, LLC for approximately $130 million on January 27, 2018. Internap will pay $132 million in cash. The purchase price is subject to adjustment based on the assets of SingleHop at the time of closing. Certain amount will be deposited in escrow at the time of closing. Internap has entered into a commitment agreement with Jefferies Finance LLC to provide a fully underwritten debt financing which, combined with INAP’s cash on hand, will fund the entire transaction. Internap is seeking to raise $135 million of incremental first lien term loan to fund the transaction. Internap will look to optimize its capital structure with a blend of equity and debt securities to affect a leverage-neutral or better outcome. Upon closing Internap will pay one and half percent of the purchase price in cash with the escrow agent to be distributed in accordance with the terms of this agreement and the escrow agreement. In case of termination Internap Corporation will pay fees of $5.28 million. For twelve months trailing September 30, 2017, Single Hop had revenues of $47.7 million, adjusted EBITDA of 16.5 million and net income of $5.7 million. The employees of SingleHop will be joining Internap family. The transaction is subject to customary closing conditions, including the expiration or termination of any applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction is expected to close before the end of the first quarter 2018. RBC Capital Markets acted as financial advisor and Jefferies LLC acted as financial advisor to Internap. John Mutkoski of Goodwin Procter LLP and Todd Young of Hinshaw & Culbertson LLP acted as legal advisors to SingleHop. DH Capital, LLC acted as financial advisor to SingleHop. Thomas A. Monson of Jenner & Block LLP acted as legal advisor to Internap. Shareholder Representative Services LLC acted as consultant to SingleHop members. SunTrust Bank acted as escrow agent in the transaction. Upon Closing, Internap will wire $0.5 million to the member representative, which will be used for the purposes of paying directly, or reimbursing the member representative for, any third party expenses pursuant to the agreement and any agreements ancillary hereto. Robin Samples, Stephen Sonenshine and Alexander Mayberry of BDO Capital Advisors, LLC acted as financial advisors to Internap Corporation in the transaction.