Business
AcuityAds Announces Closing of US$57.5M Initial Public Offering in the United States and Public Offering Canada
AcuityAds Announces Closing of US$57.5M Initial Public Offering in the United States and ...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"\n \n \n \n AcuityAds Announces Closing of US$57.5M Initial Public Offering in the United States and Public Offering Canada\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n June 14, 2021\n \n /CNW/ - AcuityAds Holdings Inc. (TSX: AT) (NASDAQ: ATY) (\"AcuityAds\" or the \"Company\"), a technology leader that provides targeted digital media solutions enabling advertisers to connect intelligently with audiences across digital advertising channels, today announced the closing of its previously-announced marketed public offering of common shares in\n \n the United States\n \n and\n \n Canada\n \n . A total of 5,665,025 common shares of AcuityAds were sold, including 738,916 common shares following the exercise in full by the underwriters of their over-allotment option, at a price of\n \n US$10.15\n \n per share, for gross proceeds to the Company of\n \n US$57,500,003.75\n \n .\n \n \n AcuityAds expects that the net proceeds of the offering will be used primarily to strengthen the Company's financial position and allow it to pursue its growth strategies, which include: funding ongoing operations; building on successes in digital advertising and marketing solutions, including possibly expanding its current business through acquisitions of, or investments in, other complementary businesses, products or technologies, and other general corporate purposes.\n \n \n The offering was conducted through a syndicate of underwriters led by Canaccord Genuity and Needham & Company, who are acting as joint lead book-running managers and representatives of the underwriters for the offering. RBC Capital Markets and TD Securities Inc. are also acting as book-running managers for the offering, with Lake Street Capital Markets, LLC, Roth Canada, ULC, Eight Capital, Desjardins Securities Inc., Echelon Wealth Partners Inc. and Paradigm Capital Inc. as co-managers (collectively, the \"\n \n Underwriters\n \n \").\n \n \n The public offering was made in all provinces and territories of\n \n Canada\n \n , other than\n \n Quebec\n \n ,...