Exhibit 5.1

 

Manatt, Phelps & Phillips, LLP

 

September 29, 2015 Client-Matter: 40039-030

 

Digital Turbine, Inc.

1300 Guadalupe Street

Suite #302

Austin, TX 78701

 

Re: Registration Statement on Form S-3
  Commission File No. 333-202862

 

Ladies and Gentlemen:

 

We have acted as special counsel to Digital Turbine, Inc., a Delaware corporation (the "Company"), in connection with the proposed issuance by the Company of 8,740,000 shares of its common stock, par value $0.0001 per share (the "Shares"). The Shares are included in a Registration Statement on Form S-3 under the Securities Act of 1933, as amended (the "Securities Act"), filed with the Securities and Exchange Commission (the "Commission") on March 19, 2015 and amended by Amendment No. 1 to Form S-3 filed with the Commission on April 15, 2015 and Amendment No. 2 to Form S-3 filed with the Commission on April 20, 2015 (Registration No. 333-202862) (collectively, the "Registration Statement"). The Shares are issued pursuant to a prospectus supplement dated September 29, 2015 (the "Prospectus Supplement"). This opinion is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act.

 

We have examined and reviewed only such documents, records and matters of law as we have deemed necessary or appropriate for the purpose of rendering the opinion set forth herein. Insofar as the opinion set forth herein is based on factual matters in connection with, among other things, the issuance of the Shares, which factual matters are authenticated in certificates from certain officers of the Company, we have relied on such certificates. We have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity to originals of all documents submitted to us as certified or reproduced copies.

 

Based upon the foregoing and subject to the assumptions, limitations and exceptions set forth herein, we are of the opinion that as of the date hereof, the Shares have been authorized by all necessary corporate action of the Company and, when issued and delivered against the consideration therefor in each case as provided pursuant to the terms of the Underwriting Agreement, dated as of September 29, 2015, by and between the Company and B. Riley & Co., Inc. , will be validly issued, fully paid and nonassessable.

 

 

 

 

 

Mandalay Digital Group, Inc.

September 29, 2015

Page 2

 

We express no opinion as to the applicability or effect of the laws of any jurisdiction other than the General Corporation Law of the State of Delaware (including the statutory provisions and all applicable provisions of the Delaware Constitution and reported judicial decisions interpreting those laws). Further, this opinion is based solely upon existing laws, rules and regulations, and we undertake no obligation to advise you of any changes that may be brought to our attention after the date hereof. This opinion is expressly limited to the matters set forth above and we render no opinion, whether by implication or otherwise, as to any other matters relating to the Company or the Shares.

 

We hereby consent to the use of our name under the caption “Legal Matters” in the prospectus forming a part of the Registration Statement and the Prospectus Supplement, and to the filing of this opinion as an exhibit to the Company’s Current Report on Form 8-K to be filed with the Commission on or about September 30, 2015. In giving this consent, we do not admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Securities and Exchange Commission adopted under the Act.

 

  Very truly yours,
   
  /s/ Manatt, Phelps & Phillips, LLP
   
  Manatt, Phelps & Phillips, LLP