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TORONTO, April 17, 2018 /CNW/ - AcuityAds Holdings Inc.
(TSXV:AT) ("AcuityAds" or the "Company"), a technology leader that
provides targeted digital media solutions by leveraging its
proprietary AI technology to enable advertisers to connect
intelligently with audiences across video, mobile, social and
online display advertising campaigns, today announced that it has
closed its previously announced bought-deal private placement (the
"Offering") of common shares (the "Shares") of the Company with a
syndicate of underwriters led by Haywood Securities Inc. and
including Canaccord Genuity Corp. and Gravitas Securities Inc. (the
"Underwriters"). An aggregate of 4,600,000 Shares were issued by
the Company at a price per Share of CDN$1.00 (the "Offering Price"), including
600,000 Shares issued on full exercise of the over-allotment option
for aggregate gross proceeds of CDN$4.6
million.
The net proceeds from the Offering are expected to be used to
fund the initial payment in connection with the previously
announced acquisition of ADman Interactive S.L., and for working
capital and general corporate purposes.
In consideration for their services, the Underwriters received
cash compensation equal to 7% of the gross proceeds of the
Offering, and the Company will issue such number of broker warrants
(the "Broker Warrants") equal to 7% of the number of Shares sold
under the Offering (except for Shares on the President's List,
which were subject to a 2% cash commission and 2% Broker Warrants).
Each Broker Warrant is exercisable into one Share at the
Offering Price until April 17, 2020.
Some of the Company's senior management and Directors
participated and acquired 1,025,000 Shares under the
Offering.
The Shares and Broker Warrants are subject to a statutory four
month hold period. The Offering remains subject to the final
approval of the TSX Venture Exchange.
The Company is also pleased to announce that Silicon Valley Bank
has offered an extension to the Company's existing line of credit
and the Company is in the process of finalizing such extension.
About AcuityAds:
AcuityAds is a leading technology company that provides
marketers a more powerful and holistic solution for digital
advertising across all ad formats and devices to amplify reach and
Share Of Attention® throughout the customer journey. Via its unique
data-driven insights, real-time analytics and industry-leading
activation platform based on proprietary machine learning
technology, AcuityAds leverages an integrated ecosystem of partners
for data, inventory, brand safety and fraud prevention, offering
unparalleled trusted solutions that the most demanding marketers
require to be successful in the digital era.
AcuityAds is headquartered in Toronto,
Canada with offices across North
America including New York
City, Boston, Chicago, Las
Vegas, Los Angeles,
San Francisco, Vancouver, Calgary and Montreal. For more
information, visit www.AcuityAds.com.
Cautionary Statement Regarding Forward-Looking
Information
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities laws.
Forward-looking statements can generally be identified by words
such as "believe", "anticipate", "expect", "intend", "plan",
"will", "may" and other similar expressions. These statements are
based on the Company's expectations, estimates, forecasts and
projections and include statements relating to the use of proceeds
from the Offering, final approval of the Offering and the extension
of the line of credit with Silicon Valley Bank. They are not
guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. These risks
and uncertainties are discussed in the Company's regulatory filings
available on SEDAR at www.sedar.com. There can be no assurance
that forward-looking statements will prove to be accurate as actual
outcomes and results may differ materially from those expressed in
these forward-looking statements. Readers, therefore, should not
place undue reliance on any such forward-looking statements.
Further, a forward-looking statement speaks only as of the date on
which such statement is made. Except as required by applicable law,
the Company undertakes no obligation to publicly update any such
statement or to reflect new information or the occurrence of future
events or circumstances.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
SOURCE AcuityAds Inc.
