Business
AcuityAds Announces Increase to the Previously Announced Offering to $10.2 Million and Secondary Offering of 1.0 Million Shares
AcuityAds Announces Increase to the Previously Announced Offering to $10.2 Million and Sec...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"\n\n\n\nAcuityAds Announces Increase to the Previously Announced Offering to $10.2 Million and Secondary Offering of 1.0 Million Shares\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, March 10, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n \n\nTORONTO, March 10, 2017 /CNW/ - AcuityAds Holdings Inc. (TSXV:AT, OTCQB:ACUIF) (\"AcuityAds\" or the \"Company\"), a technology leader that provides targeted digital media solutions enabling advertisers to connect intelligently with audiences across mobile, video, social and display, is pleased to announce that, due to strong demand, it has entered into an agreement with a syndicate of underwriters co-led by Paradigm Capital Inc. (\"Paradigm\") and Haywood Securities Inc. (\"Haywood\") and including Gravitas Securities Inc. and Echelon Wealth Partners (the \"Underwriters\") to increase the size of the previously announced bought deal private placement offering (the \"Offering\") to 2,994,783 shares of the Company (\"Shares\") at a price of CDN$3.40 per share (the \"Offering Price\") for gross proceeds to the Company of approximately CDN$10.2 million. \n\nThe Company intends to use the net proceeds of the Offering to fund a portion of the purchase price for the previously announced acquisition of Visible Measures Corporation (\"Visible Measures\"). The Company has also granted the Underwriters an over-allotment option (the \"Option\") to purchase up to an additional 449,217 Shares (representing 15% of the upsized base Offering) at the Offering Price exercisable in whole or in part at any time 48 hours prior to the closing of the Offering.  If the Option is exercised in full, an additional approximately CDN$1.53 million will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be approximately CDN$11.71 million. The Offering is expected to close on or about March 31, 2017 and is subject to certain conditions including, but not limited to, the closing of the acquisit...