RM-SYSTÉM»Události»Use of Proceeds Intended for the Repurchase of Outstanding Warrants

Use of Proceeds Intended for the Repurchase of Outstanding Warrants

04.03.2010 10:32
NEW YORK, NY and PRAGUE, CZECH REPUBLIC, Mar 03, 2010 (MARKETWIRE via COMTEX) -- KIT digital, Inc. (NASDAQ: KITD) (PRAGUE: KITD), a leading global provider of on-demand software solutions for managing and monetizing Internet Protocol (IP)-based video assets, priced a public offering of 1,541,624 shares of its common stock at $9.73 per share. KIT digital has granted a 30-day option to the underwriter to purchase up to an additional 231,244 shares to cover over-allotments.

The company intends to use the net proceeds from the sale of the shares in the offering to repurchase outstanding warrants issued in prior private placement financings from certain warrant holders and, if there are residual proceeds, for acquisitions, working capital and general corporate purposes.


ROTH Capital Partners, LLC is acting as the sole manager for the offering. Merriman Curhan Ford & Co. acted as a financial advisor to the company in this transaction.


The company plans to issue common stock in the offering pursuant to a registration statement on Form S-3 (File No. 333-164655) filed by the company on February 3, 2010 with the U.S. Securities and Exchange Commission (SEC). On Febuary 12, 2010, the SEC declared the registration statement effective. The offering will be made by a prospectus supplement, which will be filed at a later date with the SEC pursuant to Rule 424(b)(5) under the Securities Act of 1933, as amended.


Copies of the prospectus supplement 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.


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 prospectus for the offering 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) (PRAGUE: 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:
Adam Davis
Global Communications Manager
Tel. +1-609 468 9500

KIT digital Investor Relations Contact:
Matt Glover
Liolios Group, Inc.
Tel. +1-949-574-3860


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