Business
AcuityAds Announces Increase and Extension to its Revolving Line of Credit with Silicon Valley Bank
AcuityAds Announces Increase and Extension to its Revolving Line of Credit with Silicon Va...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"\n\n\n\nAcuityAds Announces Increase and Extension 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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and NEW YORK, Oct. 18, 2018\n\n\n\nTORONTO and NEW YORK, Oct. 18, 2018 /CNW/ - AcuityAds Holdings Inc. (TSXV:AT) (\"AcuityAds\" or the \"Company\"), a technology leader that provides targeted digital media solutions by leveraging its proprietary Artificial Intelligence (AI) technology to enable advertisers to connect intelligently with audiences across digital advertising campaigns, is pleased to announce that it has secured a new revolving line of credit with Silicon Valley Bank (\"SVB\") that provides additional capital at a lower cost. \nThe Company and SVB have agreed to increase the line of credit to US$15 million up from US$10 million and extend the maturity date to March 2020. In addition, the applicable interest rate has been reduced by 1.75%.\n\"This amended agreement allows us to strengthen our balance sheet and ensures that we will have the working capital necessary to continue our growth,\" said Jonathan Pollack, Chief Financial Officer of AcuityAds. \"Silicon Valley Bank has been a trusted partner of ours for many years and we believe these positive developments are a vote of confidence in our business model and continued growth strategy.\"\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 technology, AcuityAds leverages an integrated ecosystem of partners for data, inventory, brand safety and fraud prevention, offering unparalleled, trusted solutions that the most demanding marketers require to be successful in the digital era.\nAcuityAds is headquartered in Toronto with offices throughout the U...