AcuityAds Announces Closing of US$57.5M Initial Public Offering in the United States and Public Offering Canada
Summary
TORONTO, June 14, 2021 /CNW/ - AcuityAds Holdings Inc. (TSX: AT) (NASDAQ: ATY) ("AcuityAds" or the "Company"), a technology leader that provides targeted digital media solutions enabling advertisers to connect intelligently with audiences across digital advertising channels, today announced the closing of its previously-announced marketed public offering of common shares in the United States and Canada. A total of 5,665,025 common shares of AcuityAds were sold, including 738,916 common shares following the exercise in full by the underwriters of their over-allotment option, at a price of US$10.15 per share, for gross proceeds to the Company of US$57,500,003.75.AcuityAds expects that the net proceeds of the offering will be used primarily to strengthen the Companys financial position and allow it to pursue its growth strategies, which include: funding ongoing operations; building on successes in digital advertising and marketing solutions, including possibly expanding its current business through acquisitions of, or investments in, other complementary businesses, products or technologies, and other general corporate purposes.The offering was conducted through a syndicate of underwriters led by Canaccord Genuity and Needham & Company, who are acting as joint lead book-running managers and representatives of the underwriters for the offering. Copies of such documents may also be obtained from any of the following sources: Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, 12th Floor, Boston MA 02110, by email at [email protected]; and Needham & Company, LLC, Attention: Prospectus Department, 250 Park Avenue, 10th Floor, New York, NY 10177, by telephone at 800-903-3268.No securities regulatory authority has either approved or disapproved the contents of this press release. With proprietary Artificial Intelligence, illumin brings unique programmatic capabilities to close the gap between advertising planning and execution. The Company brings an integrated ecosystem of privacy-protected data, inventory, brand safety and fraud prevention partners, offering trusted solutions with proven, above benchmark outcomes for the most demanding marketers.