Kubient Announces Exercise of Overallotment Option and Closing of Initial Public Offering
Kubient Announces Exercise of Overallotment Option and Closing of Initial Public Offering |
[14-August-2020] |
NEW YORK, Aug. 14, 2020 /PRNewswire/ -- Kubient, Inc. (NasdaqCM: KBNT, KBNTW) ("Kubient" or the "Company"), a cloud-based software platform for digital advertising, today announced the closing of its initial public offering of 2,500,000 units at a price of $5.00 per unit and partial exercise of the overallotment option for additional warrants to purchase 375,000 shares of common stock. Each unit consisted of one share of Common Stock and one Warrant to purchase one share of Common Stock. The Warrants are exercisable immediately, expire five years from the date of issuance and have an exercise price of $5.50 per share. The Common Stock and Warrants began trading on the Nasdaq Capital Market on August 12, 2020, under the symbols "KBNT" and "KBNTW," respectively. Kubient received gross proceeds of approximately $12.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Maxim Group LLC and Joseph Gunnar & Co., LLC acted as co-book-running managers for the offering. The Benchmark Company, LLC acted as co-manager for the offering. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained, when available, from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at (212) 895-3745. 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, any security in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Kubient Forward-Looking Statements Kubient Investor Relations View original content to download multimedia:http://www.prnewswire.com/news-releases/kubient-announces-exercise-of-overallotment-option-and-closing-of-initial-public-offering-301112595.html SOURCE Kubient | ||
Company Codes: NASDAQ-NMS:KBNT |
© 2020 PR Newswire. All Rights Reserved.