Kubient Inc. (KBNT) Prices 3.53M Share Common Offering at $5.10/Sh

Kubient, Inc. (NASDAQ: KBNT), 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 (the "Offering"). 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.

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