Kubient, Inc. (NasdaqCM: KBNT, KBNTW), a cloud-based software platform for digital advertising, announced today the pricing of its underwritten public offering of 3,529,411 shares of its common stock at a price to the public of $5.10 per share for gross proceeds of $18.0 million. After the underwriting discounts and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $16.3 million.
Maxim Group LLC and Joseph Gunnar & Co., LLC are serving as co-book-running managers for the offering.
Kubient anticipates that the net proceeds from the Offering will be used for product development, working capital, capital expenditures, repayment of debt (approximately $80,000), and other general corporate purposes, including investments in sales and marketing in the United States and internationally. Additionally, the Company may also use a portion of the proceeds for acquisitions or strategic investments in complementary businesses, brands, or technologies.
Kubient also has granted the underwriters a 45-day option to purchase up to an additional 529,411 shares of common stock, at the public offering price less discounts and commissions. The offering is expected to close on or about December 28, 2020, subject to customary closing conditions.
About Kubient
Kubient is a technology company with a mission to transform the digital advertising industry to audience-based marketing. Kubient's next generation cloud-based infrastructure enables efficient marketplace liquidity for buyers and sellers of digital advertising. The Kubient Audience Cloud is a flexible open marketplace for advertisers and publishers to reach, monetize and connect their audiences. The Company's platform provides a transparent programmatic environment with proprietary artificial intelligence-powered pre-bid ad fraud prevention, and proprietary real-time bidding (RTB) marketplace automation for the digital out of home industry. The Audience Cloud is the solution for brands and publishers that demand transparency and the ability to reach audiences across all channels and ad formats. For additional information, please visit https://kubient.com/.
