TORONTO, June 14, 2021 /PRNewswire/ - 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 Company's 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. RBC Capital Markets and TD
Securities Inc. are also acting as book-running managers for the
offering, with Lake Street Capital Markets, LLC, Roth Canada, ULC,
Eight Capital, Desjardins Securities Inc., Echelon Wealth Partners
Inc. and Paradigm Capital Inc. as co-managers (collectively, the
"Underwriters").
The public offering was made in all provinces and territories of
Canada, other than Quebec, only by means of the base shelf
prospectus and prospectus supplement and in the United States only by means of the
registration statement, including the base shelf prospectus and
prospectus supplement. Such documents contain important information
about the offering. Copies of the base shelf prospectus and the
prospectus supplement can be found on SEDAR at www.sedar.com, and a
copy of the registration statement and final prospectus supplement
can be found on EDGAR at www.sec.gov. 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 prospectus@cgf.com; 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. 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 the common shares in
any province, state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such province, state
or jurisdiction.
About AcuityAds
AcuityAds is a leading technology company that provides
marketers a one-stop solution for omnichannel digital advertising
with best-of-category return on advising spend. Its journey
automation technology, illumin™, offers planning, buying and
real-time intelligence from one platform. 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. AcuityAds is
headquartered in Toronto with
offices throughout Canada, the
U.S., Europe and Latin America. For more information, visit
AcuityAds.com.
Disclaimer in Regards to Forward-Looking Statements
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities laws,
including, without limitation, statements regarding the conduct of
the offering; the intended listing of the common shares on Nasdaq;
the granting of the underwriters' over-allotment option; and the
anticipated use of proceeds from the offering. Words such as "may",
"will", "expect", "intend" and similar expressions have been used
to identify these forward looking statements, and include
statements regarding the expected use of proceeds of the offering.
These statements reflect current beliefs and are based on
information currently available to management of AcuityAds. Forward
looking statements necessarily involve known and unknown risks and
uncertainties and are based upon a number of estimates and
assumptions that, while considered reasonable by management at this
time, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. A number of factors,
including those risks discussed under "Risk Factors" in AcuityAds'
Annual Information Form for the year ended December 31, 2020 could cause actual results,
performance, achievements, prospects or opportunities to differ
materially from those set out in the forward-looking statements.
Investors are cautioned not to put undue reliance on
forward-looking statements. Except as required by law, AcuityAds
does not intend, and undertakes no obligation, to update any
forward-looking statements to reflect, in particular, new
information or future events.
View original
content:http://www.prnewswire.com/news-releases/acuityads-announces-closing-of-us57-5m-initial-public-offering-in-the-united-states-and-public-offering-canada-301311674.html
SOURCE AcuityAds Holdings Inc.
