/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Dec. 18, 2017 /CNW/ - AcuityAds Holdings Inc.
("AcuityAds"), (TSXV:AT) ("AcuityAds" or the "Company"), a
technology leader that provides targeted digital media solutions
enabling advertisers to connect intelligently with audiences across
video, mobile, social and online display campaigns, today announced
that it has completed its previously announced private placement
(the "Offering"), for gross proceeds of $2.1
million. Under the Offering, the Company issued
1,409,021 Common Shares priced at $1.50 per Common Share. The net proceeds of
the Offering will be used for general working capital and corporate
purposes.
In addition, the Company completed its previously announced
conversion of a portion of its debt to equity. In connection with
the conversion by certain lenders under its subordinated term loan
(the "Term Loan"), approximately $1.1
million of the Term Loan was converted into Common Shares at
a price per Common Share that is equal to the issue price under the
Offering. Accordingly, the Company issued 754,765 Common
Shares in connection with the Debt Conversion. As a
result of the Debt Conversion, only $1.2
million of non-revolving debt remains outstanding.
Certain members of the Board of Directors and Management
participated in the Offering and Debt Conversion.
The Common Shares issued in the Offering and the Debt Conversion
are subject to a statutory four month hold period.
About AcuityAds
AcuityAds is a technology company that enables marketers to
connect intelligently with their most meaningful audiences through
digital media. A Self-Serve programmatic marketing platform,
powered by proprietary machine learning technology, is at the core
of its business. This is accompanied by strategic digital
advertising solutions that cater to social, mobile and
video-specific needs. AcuityAds empowers marketers by offering
transparency on costs and brand safety, and real-time reporting and
analytics, bringing accountability to programmatic advertising to
deliver business results.
AcuityAds is headquartered in Toronto,
Canada with offices across North
America including New York
City, Boston, Chicago, Dallas, Los
Angeles, San Francisco,
San Diego, Vancouver, Calgary, Montreal and London, England. For more information,
visit www.AcuityAds.com.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities laws.
Forward-looking statements include, but are not limited to,
statements with respect to the use of proceeds of the Offering. All
forward-looking statements in this news release 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. Forward‐looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual
results, performance or achievement of the Company to be materially
different from any future results, performance or achievements
express or implied by such 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE AcuityAds Inc.
