SOURCE: KIT digital, Inc.

KIT digital, Inc.

November 18, 2010 18:22 ET

KIT digital Announces Proposed Public Offering of Common Stock

NEW YORK, NY and PRAGUE, CZECH REPUBLIC--(Marketwire - November 18, 2010) - KIT digital, Inc. (NASDAQ: KITD), a global provider of video asset management solutions (VAMs) for multi-screen IP-based delivery, announced today it intends, subject to market and other conditions, to offer approximately 8,000,000 shares of its common stock in a registered public offering pursuant to its existing shelf registration statement under the Securities Act of 1933.

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. Roth Capital Partners, LLC is acting as a book-running manager for the offering.

KIT digital previously filed a registration statement, together with the accompanying base prospectus, with the 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, risks and expenses 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 from the SEC's website at www.sec.gov or from Roth Capital Partners, LLC, 24 Corporate Plaza, Newport Beach, CA 92660, or rothecm@roth.com or via fax 1+949-720-7227.

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 and prospectus supplement 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 to be offered involve a high degree of risk.

About KIT digital
KIT digital (NASDAQ: KITD) is a leading global provider of video asset management solutions (VAMs) for multi-screen IP-based delivery. KIT VX-one, the company's family of end-to-end software platform solutions, 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 1,300 customers across 40+ countries, including The Associated Press, BBC, Best Buy, Bristol-Myers Squibb, Disney-ABC, FedEx, General Motors, Google, Hewlett-Packard, Home Depot, IMG Worldwide, ESPN Star, MediaCorp, News Corp, Telefonica, Universal Studios, Verizon and Vodafone. KIT digital is headquartered in Prague, and maintains principal offices in Atlanta, Beijing, Boston, Buenos Aires, Cairo, Cambridge (UK), Chennai, Cologne, Delhi, Dubai, Kolkata, London, Los Angeles, Melbourne (Australia), Mumbai, New York, Singapore, Sofia (Bulgaria), 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.

Contact Information

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

    KIT digital Global Contact:
    Adam Davis
    Global Communications Manager
    Tel. +1-646-613-7838
    Email Contact