RM-SYSTÉM»Události»Investor Relations News Release << Back KIT digital Announces Exercise of Over-Allotment Option

Investor Relations News Release << Back KIT digital Announces Exercise of Over-Allotment Option

25.02.2010 15:17
KIT digital, Inc. (NASDAQ: KITD), a leading global provider of on-demand software solutions for managing and monetizing Internet Protocol (IP)-based video assets, has closed the sale of an additional 350,000 shares of common stock at the recent public offering price of $10.50 per share for proceeds of $3,675,000, pursuant to the over-allotment option exercised by the underwriters in connection with its public offering that closed on January 27, 2010.

The exercise of the over-allotment option brings the total number of shares sold by KIT digital in its registered public offering to 3,330,000 and the aggregate net proceeds received by the company to approximately $31.5 million, after deducting underwriting discounts, commissions and certain deal-related expenses payable by the company from the gross proceeds.


The company plans to use a significant portion of the net proceeds of the offering to finance acquisitions of, or investments in, competitive and complementary businesses, as a part of its growth strategy. In addition, the company intends to use a portion of the net proceeds for working capital and general corporate purposes, including the purchase of certain outstanding warrants issued in prior private placement financings.


ROTH Capital Partners acted as the lead underwriter for the offering, with ThinkEquity (a Panmure Gordon Company), Merriman Curhan Ford & Co., and Maxim Group acting as co-managers.


The U.S. offering was made by a final prospectus supplement filed with the SEC pursuant to Rule 424(b)(5) under the Securities Act of 1933, as amended. Copies of the final prospectus may be obtained from the offices of ROTH Capital Partners by e-mail to rothecm@roth.com, by fax to (949) 720-7227, or by mail to 24 Corporate Plaza Drive, Newport Beach, CA, 92660, Attention: Equity Capital Markets.


The shares of common stock issued by the company in the offering are pursuant to a registration statement on Form S-3 (File No. 333-162325) filed by the company on October 5, 2009 with the U.S. Securities and Exchange Commission (SEC). On October 13, 2009, the SEC declared the registration statement effective.


This press release does not constitute an offer to sell or solicitation of an offer to buy any securities. Any such offer may be made only pursuant to the company's final prospectus for the offering or offerings and only in states in which the offering is registered or exempt from registration and by broker-dealers authorized to do so. The securities offered by the prospectus are speculative and involve a high degree of risk.


About KIT digital, Inc
KIT digital (NASDAQ: KITD) is a leading, global provider of on-demand, Internet Protocol (IP)-based video asset management solutions. KIT VX, the company's end-to-end software platform, enables enterprise clients to acquire, manage and distribute video assets across the three screens of today's world: the personal computer, mobile device, and IPTV-enabled television set. The application of VX ranges from commercial video distribution to internal corporate deployments, including corporate communications, human resources, training, security and surveillance. KIT digital's client base includes more than 600 enterprise customers across 30+ countries, including The Associated Press, Best Buy, Bristol-Myers Squibb, Disney-ABC, General Motors, Google, Hewlett-Packard, IMG Worldwide, Intel, McDonald's, News Corp, Telefonica, the U.S. Department of Defense, Verizon, and Vodafone. KIT digital is headquartered in Prague, and maintains principal offices in Cologne, Dubai, London, Melbourne (Australia), New York, Stockholm and Toronto. For additional information, please visit www.kitd.com.


KIT digital Forward-Looking Statement
This press release contains certain "forward-looking statements" related to the businesses of KIT digital, Inc. which can be identified by the use of forward-looking terminology such as "anticipates," "believes," "estimates," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development and commercialization, the ability to obtain or maintain patent and other proprietary intellectual property protection, market acceptance, future capital requirements, regulatory actions or delays, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our public filings with the U.S. Securities and Exchange Commission. KIT digital is not under any obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.


KIT digital Contact:
Daniel Goodfellow
VP, Marketing and Communications
Tel. +1-646-873-3086

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