IRVINE, Calif., Sept. 22, 2014 /PRNewswire/ -- Content
syndication and monetization company, Adaptive Medias, Inc.
(OTC-QX:ADTM), a leader in
programmatic advertising across mobile, video and online display,
announced today that it has closed private placements of its common
stock with two institutional investors. The Company has agreed to
sell an aggregate of 2.31 million shares of its common stock at
$2.25 per share, for total gross
proceeds of $5.2 million.
The Company intends to use the aggregate net proceeds from the
transaction to aggressively expand its customer acquisition through
accelerated sales and marketing efforts, as well as for other
general corporate purposes.
Qayed Shareef, Chief Executive Officer of Adaptive Medias, Inc.
stated, "We have been fortunate enough to have consistent financial
support from our investors. It is a clear vote of confidence in our
platform and strategy. As a company, we are now positioned
financially and technically for explosive growth. This new capital
will allow us to aggressively take our end-to-end multi-screen
video solution to market. We have a proven technology and
infrastructure to become a leader in the highly fragmented digital
video and mobile space."
Mr. Shareef added, "Our timing couldn't be better. Mobile video
consumption is growing at an estimated 40% year over year. With the
clear movement of users to a multi-screen approach, publishers are
struggling with multiple vendors to meet this demand. Our single
source solution addresses their concerns and allows them to
maximize this shifting trend in usage."
For more information about Adaptive Media, please visit
www.adaptivem.com.
About Adaptive Media
Adaptive Media is a programmatic
audience and content monetization provider for website owners, app
developers and video publishers who want to more effectively
optimize content through advertising. The Company provides a
foundation for publishers and developers looking to engage brand
advertisers through a multi-channel approach that delivers
integrated, engaging and impactful ads across multiple devices.
Adaptive Media meets the needs of its publishers with an emphasis
on maintaining user experience, while delivering timely and
relevant ads through its multi-channel ad delivery and content
platform. For more information, please visit www.adaptivem.com.
Also, follow us on Twitter at @adaptive_m.
Safe Harbor Statement:
This Press Release may
contain certain forward-looking statements within the meaning of
the Securities Litigation Reform Act of 1995. Adaptive Medias, Inc.
has tried, whenever possible, to identify these forward-looking
statements using words such as "anticipates," "believes,"
"estimates," "expects," "plans," "intends," "potential" and similar
expressions. These statements reflect Adaptive Medias' current
beliefs and are based on information currently available to it.
Accordingly, such forward-looking statements involve known and
unknown risks, uncertainties and other factors which could cause
Adaptive Medias' actual results, performance or achievements to
differ materially from those expressed in or implied by such
statements. Adaptive Medias undertakes no obligation to update or
provide advice in the event of any change, addition or alteration
to the information contained in this Press Release including such
forward-looking statements.
For Further Information
Adaptive Media Investor
Relations:
Casey Stegman
Stonegate, Inc.
Phone: (972) 850-2001
Email: casey@stonegateinc.com
SOURCE Adaptive Medias, Inc.