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AcuityAds Announces Closing of $23 million Bought Deal Offering including Exercise of Over-Allotment Option
AcuityAds Announces Closing of $23 million Bought Deal Offering including Exercise of Ove...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"\n \n \n \n AcuityAds Announces Closing of $23 million Bought Deal Offering including Exercise of Over-Allotment Option\n \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 /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n TORONTO\n \n and\n \n NEW YORK\n \n ,\n \n Dec. 4, 2020\n \n /CNW/ - AcuityAds Holdings Inc. (TSX: AT) (OTCQX: ACUIF) (\"AcuityAds\" or \"Company\"), is pleased to announce that the Company, along with 2794606 Ontario Ltd., an entity which\n \n Tal Hayek\n \n ,\n \n Joe Ontman\n \n and Rachel Kapcan own, and Ov2 Capital Inc., an entity which\n \n Sheldon Pollack\n \n controls or directs (the \"Selling Shareholders\") have closed the previously announced bought deal offering of 3,280,000 common shares (the \"Shares\") of AcuityAds, at a price of\n \n $6.10\n \n per Share (the \"Offering Price\") for total gross proceeds of approximately\n \n $23 million\n \n , including the full exercise by the Underwriters (as defined below) of the over-allotment option (the \"Offering\"). The Offering was completed by a syndicate of underwriters led by TD Securities Inc. and Canaccord Genuity Corp. (the \"Lead Underwriters\"), and including Echelon Wealth Partners Inc., Eight Capital, Paradigm Capital Inc., Cormark Securities Inc., Haywood Securities Inc. and INFOR Financial Inc. (together with the Lead Underwriters, the \"Underwriters\").\n \n \n In connection with the closing of the Offering, the Underwriters fully exercised their over–allotment option to purchase an additional 492,000 Shares (representing 15% of the base Offering) at the Offering Price from the Selling Shareholders.\n \n \n The net proceeds from the Treasury Offering are expected to be used to fund the Company's growth strategy including to fund future acquisitions and for general corporate purposes.\n \n \n In consideration for their services, the Underwriters received cash commission equal to 6% of the gross proceeds of the Offering.\n \n \n The securities offered ha...