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AcuityAds Announces a CDN$7.0 Million Bought-Deal
AcuityAds Announces a CDN$7.0 Million Bought‐Deal Canada NewsWire TORONTO...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"\n\n\n\nAcuityAds Announces a CDN$7.0 Million Bought‐Deal\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and NEW YORK, April 30, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n TORONTO and NEW YORK, April 30, 2019 /CNW/ - AcuityAds Holdings Inc. (TSXV:AT) (\"AcuityAds\" or \"Company\"), 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 entered into an agreement with a syndicate of underwriters led by Haywood Securities Inc. and Cormark Securities Inc. (the \"Lead Underwriters\" and collectively the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase 4,517,000 common shares (the \"Shares\") of AcuityAds, at a price of CDN$1.55 per Share (the \"Offering Price\") and offer them to the public by way of short form prospectus for total gross proceeds of approximately CDN$7.0 million (the \"Offering\").\nIn addition, AcuityAds has also granted the Underwriters an over‐allotment option (the \"Option\") to purchase up to an additional 677,550 Shares (representing 15% of the base Offering) at the Offering Price exercisable in whole or in part at any time 48 hours prior to the closing of the Offering. If the Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately CDN$8,051,553.\nThe net proceeds from the Offering are expected to be used for working capital and general corporate purposes. \nThe Offering is expected to close on or about the week of May 21, 2019 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including approval of the TSX Venture Exchange. \nOn closing of the Offering, AcuityAds will pay the Underwriters a cash commission equal to 6% of the gross proceeds of the Offering and will issue such number of broker warrants equal to 6% of the number of Shares sold i...