KIT digital Proposes Public Offering of Common Stock

NEW YORK, NY and PRAGUE, CZECH REPUBLIC, Apr 21, 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, intends to offer shares of its common stock in an underwritten public offering. Roth Capital Partners is acting as the lead manager for the public offering.

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.

 

KIT digital previously filed a registration statement, together with the 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 February 10, 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 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 http://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