/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, May 22, 2019 /CNW/ - AcuityAds Holdings Inc.
("AcuityAds" or the "Company") (TSXV:AT), a technology leader that
provides targeted digital media solutions enabling advertisers to
connect intelligently with audiences across digital advertising
campaigns, is pleased to announce that it has closed its previously
announced bought deal offering (the "Offering") of
5,936,300 common shares (the "Shares") of the Company at a
price of CDN$1.55 per Share (the
"Offering Price") for aggregate gross proceeds of CDN$9,201,265, including the full exercise by the
Underwriters (defined below) of the over-allotment option. The
Offering was completed by a syndicate of underwriters led by
Haywood Securities Inc. and Cormark Securities Inc., and including
Paradigm Capital Inc., Echelon Wealth Partners Inc. and Eight
Capital (collectively, the "Underwriters").
The Company intends to use the net proceeds of the Offering to
pay a portion of a performance based earn-out in connection with
its acquisition of certain assets of Magnetic Media Online Holdings
Inc., and to repay a portion of the amount owing under its
operating line of credit, which will have the result of increasing
the Company's available borrowing capacity under its existing
operating line of credit.
In consideration for their services, the Underwriters received
cash commission equal to 6% of the gross proceeds of the Offering,
and the Company will issue such number of broker warrants (the
"Broker Warrants") equal to 6% of the number of Shares sold in the
Offering. Each Broker Warrant will be exercisable into one Share at
the Offering Price until May 22,
2021.
The securities offered have not been registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent
registration or an exemption from the registration requirements.
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
securities in any State in which such offer, solicitation or sale
would be unlawful.
About AcuityAds:
AcuityAds is a leading technology company that provides
marketers a powerful and holistic solution for digital advertising
across all ad formats and screens 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 Artificial Intelligence
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 with offices throughout the U.S.,
Europe and Latin America. For more information, visit
AcuityAds.com.
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 Holdings Inc.