Dallas, TX – April 13, 2010 – DG FastChannel, Inc. (Nasdaq: DGIT) a leading provider of digital media services to the advertising, entertainment and broadcast industries, announced today that it has closed its public offering announced on April 7, 2010. The offering included the sale of 3,651,250 shares resulting in total net proceeds to DG FastChannel of approximately $108 million, including the underwriters’ purchase of additional shares of common stock to cover over-allotments. DG FastChannel has used approximately $100 million of the proceeds from the sale to retire all indebtedness outstanding under its credit facility, and maintains its undrawn $30 million revolving credit facility. After debt repayments, the remaining $8 million of proceeds increases the Company’s cash balances to approximately $58 million.
DG FastChannel also announced that it is currently negotiating for a larger revolving credit facility and intends to use this enhanced revolving credit facility to fund potential acquisitions and for general corporate purposes.
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