27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
NEW YORK, NY and DUBAI, UNITED ARAB EMIRATES--(Marketwire - August 13, 2009) - KIT digital,Inc. (NASDAQ: KITD), a leading global provider of on-demand softwaresolutions for managing and monetizing Internet Protocol (IP)-based videoassets, announced today the pricing of its previously announced publicoffering of common stock at $7.00 per share. A total of 3,410,000 shareswere sold by KIT digital, Inc., and a total of 550,000 shares were sold byunaffiliated selling stockholders. KIT digital has granted a 30-day optionto the underwriter to purchase up to an additional 594,000 shares of commonstock to cover over-allotments.
KIT digital intends to use the net proceeds of this offering primarily tofinance acquisitions of competitive businesses, with a limited portion usedto repay certain outstanding debts and for general corporate purposes,including the potential restructuring of existing earn-out arrangementsrelated to prior acquisitions.
"We are very pleased to have completed this equity offering and at the sametime facilitated the placement of shares for certain outside shareholders,"commented Kaleil Isaza Tuzman, chairman and chief executive officer of KITdigital, whose KIT Media Ltd. investment vehicle invested in the publicoffering. "Together with our newly effective NASDAQ Global Market listing,today's announcement provides evidence of our leadership position in theIP-video content management industry and puts us in a position to executeon selected, accretive acquisitions."
Roth Capital Partners LLC acted as the lead underwriter for the offeringand Merriman Curhan Ford & Co. and Maxim Group LLC acted as co-managers.
A registration statement relating to these securities was declaredeffective by the Securities and Exchange Commission on August 12, 2009. Anyoffer or sale will be made only by means of a written prospectus formingpart of the effective registration statement. Copies of the finalprospectus relating to the offering may be obtained from the offices ofRoth Capital Partners by e-mail to rothecm@roth.com, by fax to (949)720-7227 or by mail to 24 Corporate Plaza Drive, Newport Beach, CA, 92660,Attention: Equity Capital Markets.
This press release shall not constitute an offer to sell or thesolicitation of an offer to buy, nor shall there be any sale of thesesecurities in any state or jurisdiction in which such offer, solicitationor sale would be unlawful prior to their registration or qualificationunder the securities laws of any such state or jurisdiction.
About KIT digital
KIT digital, Inc. (NASDAQ: KITD) is a leading global provider of on-demandcontent management solutions for managing IP-based video assets. Throughits end-to-end software platform, KIT VX, KIT digital works closely withconsumer brands, content providers and telcos to economize on costs andmaximize the value of video content via the Internet, mobile networks andIPTV enabled televisions. The KIT VX platform allows clients to ingest,manage, distribute and publish digital video content, build online/mobilecommunities and integrate advertising. KIT offers businesses a full rangeof interactive marketing solutions and KIT clients can access approximately80 KIT-syndicated channels and 40,000 KIT-syndicated videos. KIT digitalclients include Associated Press, Disney-ABC, General Motors, IMG, Kmart,NASDAQ, News Corp, RCS, Telefónica and Verizon. KIT digital has principaloffices in Dubai, Melbourne (Australia), Prague, Toronto, New York andLondon. For additional information, please visit www.kitd.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements" related tothe businesses of KIT digital, Inc. which can be identified by the use offorward-looking terminology such as "believes," "expects" or similarexpressions. Such forward-looking statements involve known and unknownrisks and uncertainties, including uncertainties relating to productdevelopment and commercialization, the ability to obtain or maintain patentand other proprietary intellectual property protection, market acceptance,future capital requirements, regulatory actions or delays, competition ingeneral and other factors that may cause actual results to be materiallydifferent from those described herein as anticipated, believed, estimatedor expected. Certain of these risks and uncertainties are or will bedescribed in greater detail in our public filings with the U.S. Securitiesand Exchange Commission. KIT digital, Inc. is not under any obligation to(and expressly disclaims any such obligation to) update or alter itsforward-looking statements whether as a result of new information, futureevents or otherwise.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!