RM-SYSTÉM»Události»KIT digital Prices Offering of $55 Million of Common Stock

KIT digital Prices Offering of $55 Million of Common Stock

22.04.2010 13:47
NEW YORK, NY and PRAGUE, CZECH REPUBLIC, Apr 22, 2010 (MARKETWIRE via COMTEX) --KIT digital, Inc. (NASDAQ: KITD), a global provider of on-demand software solutions for managing and monetizing Internet Protocol (IP)-based video assets, priced a public offering of 4,230,770 shares of its common stock at $13.00 per share. KIT digital expects to receive net proceeds of approximately $51.9 million from the sale of the common stock. KIT digital has granted a 30-day option to the underwriter to purchase up to an additional 634,615 shares to cover over-allotments. The offering is subject to customary closing conditions and is expected to close on Tuesday, April 27, 2010.

KIT digital plans to use the net proceeds of the offering primarily to acquire and invest in competitive and complementary businesses as a part of its growth strategy.


Roth Capital Partners is acting as the sole book-running manager for the public offering, with Janney Montgomery Scott and Merriman Curhan Ford & Co. acting as co-managers.


The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission (SEC) on February 3, 2010, which became effective on February 12, 2010. The offering will be made by a prospectus supplement, which has been filed with the SEC.


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 +1-949-720-7227, 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 involve a high degree of risk.


Conference Call Further details of the equity offering will be presented in a conference call hosted by KIT digital management at 1:00 p.m. Eastern time on Tuesday, April 27, 2010.


For participants who wish to ask a question during the Q&A period or access the call via telephone only, please call the conference telephone number, below, at least 5-10 minutes prior to the scheduled start time:


Time: 1:00 p.m. Eastern time (10:00 a.m. Pacific time) Dial-in # North America toll-free: +1-800-894-5910 Dial-in # outside of North America: +1-785-424-1052 Conference ID: 7KITDIGITAL


If you have any difficulty connecting with the conference call, please contact the Liolios Group at +1-949-574-3860.


A replay of the call will be available after 4:00 p.m. Eastern time on the same day and until May 27, 2010:


Toll-free replay # (North America): +1-800-283-4641 International replay # (outside of North America): +1-402-220-0851 (No passcode required)


About KIT digital (NASDAQ: KITD) is a leading, global provider of on-demand, Internet Protocol (IP)-based video asset management systems (VAMS). KIT VX-one, 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 1,000 enterprise customers across 30+ countries, including The Associated Press, Best Buy, Bristol-Myers Squibb, Disney-ABC, FedEx, General Motors, Google, Hewlett-Packard, Home Depot, IMG Worldwide, Intel, News Corp, Telefonica, the U.S. Department of Defense, Verizon, and Vodafone. KIT digital is headquartered in Prague, and maintains principal offices in Atlanta, Cairo, Cologne, Dubai, Melbourne (Australia), London, New York, Stockholm and Toronto. For additional information, visit www.kitd.com or follow the company on Twitter at www.twitter.com/KITdigital.


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 "believes," "expects," "plans" 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 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 Global 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

Contact for media in the Czech Republic:
Vladimir Bystrov
Bison & Rose
Tel.: +420 777 130 788



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