Apollo-Backed Software Maker Edgio Seeks Bankruptcy Protection

Edgio Inc., which is backed by private equity giant Apollo Management, has filed for Chapter 11 bankruptcy protection on Monday in Delaware.

The Nasdaq-listed company, a provider of media content and cyber-security solutions, listed $379 million in assets and $369 million in liabilities, according to court papers. The company has retained Richards Layton & Finger as its attorneys.

The company entered the process with the support of its primary lender, Lynrock Lake Master Fund LP, it said in a statement on Monday. Edgio has entered into a stalking horse asset purchase agreement with Lynrock, which plans to buy assets ...