Business
AcuityAds Announces Closing of Non-Brokered Private Placement for $2.1 Million and Debt Conversion of $1.1 Million
AcuityAds Announces Closing of Non-Brokered Private Placement for $2.1 Million and Debt Co...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"\n\n\n\nAcuityAds Announces Closing of Non-Brokered Private Placement for $2.1 Million and Debt Conversion of $1.1 Million\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, Dec. 18, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nTORONTO, 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. \n\nIn 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.\n\nCertain members of the Board of Directors and Management participated in the Offering and Debt Conversion.  \n\nThe Common Shares issued in the Offering and the Debt Conversion are subject to a statutory four month hold period.  \n\nAbout AcuityAds\n\nAcuityAds 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 ...