Benzinga | Aug 12, 2020 05:50AM EDT

Kubient Prices Upsized 2.5M Unit IPO @$5/Unit

Kubient, Inc. (NASDAQ:KBNT, KBNTW)) ("Kubient" or the "Company"), a cloud-based software platform for digital advertising, today announced the pricing of its initial public offering of 2,500,000 units at a price of $5.00 per unit. Each unit consists of one share of Common Stock and one Warrant to purchase one share of Common Stock. The Common Stock and Warrants are immediately separable from the units and will be issued separately. The Common Stock and Warrants have been approved to list on the Nasdaq Capital Market under the symbols "KBNT" and "KBNTW," respectively, and are expected to begin trading on August 12, 2020. Kubient expects to receive gross proceeds of approximately $12.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

The Warrants are exercisable immediately, expire five years from the date of issuance and will have an exercise price of $5.50 per share. The offering is expected to close on August 14, 2020, subject to customary closing conditions.

Maxim Group LLC and Joseph Gunnar & Co., LLC are acting as co-book-running managers for the offering. The Benchmark Company, LLC is acting as co-manager for the offering.

Kubient has granted the underwriters a 45-day option to purchase up to an additional 375,000 shares of Common Stock and/or Warrants to purchase 375,000 shares of Common Stock, or any combination thereof, to cover over-allotments, if any.