Business
AcuityAds Announces Extension and Increase to its Revolving Line of Credit with Silicon Valley Bank
AcuityAds Announces Extension and Increase to its Revolving Line of Credit with Silicon Va...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"\n\n\n\nAcuityAds Announces Extension and Increase to its Revolving Line of Credit with Silicon Valley Bank\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, Sept. 24, 2019\n\n\n\nTORONTO and NEW YORK, Sept. 24, 2019 /CNW/ - AcuityAds Holdings Inc. (TSX:AT, OTCQX:ACUIF) (\"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 completed an extension and increase to its revolving line of credit with Silicon Valley Bank (\"SVB\"). The agreement extends the maturity date of the existing loan from March 2020 to March 2021 as well as increases the availability on the line of credit to US$18 million from US$15 million. \n\"We are very pleased to have extended the maturity date and increased the amount of our operating line with Silicon Valley Bank.  They have been and continue to be a great partner for AcuityAds,\" said Tal Hayek, Co-Founder and Chief Executive Officer of AcuityAds. \"Having now surpassed the $100 million revenue milestone on a trailing-twelve-month basis, it is reassuring to have this strong lending relationship to help support our growing working capital requirements.\"\n\"We are pleased to play a role in supporting AcuityAds' next phase of growth,\" said Win Bear, Head of Business Development in Canada for Silicon Valley Bank. \"AcuityAds offers an innovative solution for marketers to connect with customers through digital advertising. We look forward to continuing our relationship with the team.\"  \nAbout AcuityAds: \nAcuityAds 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 t...