priced a public offering of 8,000,000 shares of its common stock at $12.00 per share. KIT digital expects to receive net proceeds of approximately $88.3 million from the sale of the common stock. KIT digital has granted a 30-day option to the underwriter to purchase up to an additional 1,200,000 shares to cover over-allotments. The offering is subject to customary closing conditions and is expected to close on Wednesday, November 24, 2010.
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.