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Kubient Announces Closing of $20.7 Million Public Offering and Exercise of Overallotment Option

Kubient, Inc. , a cloud-based software platform for digital advertising, announced the closing of its previously announced underwritten public offering of 3,529,411 shares of its common stock at a price to the public of $5.10 per share. In addition, Kubient granted to the underwriters a 45-day option to purchase up to an additional 529,411 shares of common stock, at the public offering price less underwriting discounts, of which the underwriters have fully exercised such option. After the underwriting discounts and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $18.8 million.

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Maxim Group LLC and Joseph Gunnar & Co., LLC acted 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.

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The common shares described above were offered by the Company pursuant to a Registration Statement on Form S-1 (Registration Nos. 333-251531 & 333-251619) with the United States Securities and Exchange Commission (the “SEC”). A prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at Electronic copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at (212) 895-3745 or Joseph Gunnar & Co. LLC, 30 Broad Street, 11th Floor, New York, NY 10004, at (212) 440-9600.

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.

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