KIT digital Proposes Public Offering of Common Stock
The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. KIT digital intends to use the net proceeds from the offering to fortify its balance sheet and repay debt.
Canaccord Genuity is acting as sole book runner, with Allen & Company LLC as co-lead, and Roth Capital Partners and Janney Montgomery Scott acting as co-managers. KIT digital also intends to grant the underwriters an option to purchase additional shares of common stock to cover over-allotments, if any, in connection with the offering.
KIT digital previously filed a registration statement, together with an accompanying base prospectus, with the U.S. Securities and Exchange Commission ("SEC") in connection with the offering, which was declared effective by the SEC on October 22, 2010. Investors are advised to carefully consider the investment objectives and risks of KIT digital before investing. The base prospectus contains certain information about KIT digital and should be read carefully before investing.
A prospectus supplement describing the particular terms of the offering will be filed with the SEC and will form a part of the effective registration statement. When available, copies of the prospectus supplement and accompanying base prospectus may be obtained for free by sending a request to the offices of Canaccord Genuity Inc., Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, Phone: 1-800-225-6201. Alternatively, the documents may be obtained by visiting EDGAR on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities to be offered involve a high degree of risk.
About KIT digital, Inc. KIT digital (NASDAQ: KITD) is a premium provider of end-to-end video management software and related services. The KIT Video Platform, the company's cloud-based video asset management system, enables enterprise, media & entertainment and network operator clients to produce, manage and deliver multi-screen socially-enabled video experiences to audiences wherever they are. KIT digital services more than 2,300 clients in 50+ countries including some of the world's biggest brands. KIT digital maintains executive offices in New York and its operational headquarters in Prague, Czech Republic, with offices in 21 countries around the world. Visit the company at www.kitd.com or follow on Twitter at www.twitter.com/KITdigital.
KIT digital Contact:
Executive Vice President, Marketing
Tel. +420 724 391 434
KIT digital Investor Relations Contact:
Matt Glover or Geoffrey Plank
Liolios Group, Inc.
SOURCE: KIT digital, Inc.
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