Business
AcuityAds Announces Pricing of US$50 Million Initial Public Offering in the United States and Public Offering in Canada
AcuityAds Announces Pricing of US$50 Million Initial Public Offering in the United States...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"\n \n \n \n AcuityAds Announces Pricing of US$50 Million Initial Public Offering in the United States and Public Offering in 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 9, 2021\n \n /CNW/ - AcuityAds Holdings Inc. (TSX: AT) (OTCQX: ACUIF) (\"AcuityAds\" or the \"Company\"), today announced the pricing of its previously-announced marketed public offering of common shares in\n \n the United States\n \n and\n \n Canada\n \n . The underwriters have agreed to purchase, at a price of\n \n US$10.15\n \n per share, an aggregate of 4,926,109 common shares (the \"Common Shares\") from the Company for aggregate gross proceeds of\n \n US$50,000,006\n \n .\n \n \n The Common Shares of the Company are expected to begin trading on The Nasdaq Capital Market (\"Nasdaq\") under the symbol \"ATY\" on\n \n June 10, 2021\n \n , and will continue to trade on the Toronto Stock Exchange under the symbol \"AT\". The offering is expected to close on\n \n June 14, 2021\n \n , subject to customary closing conditions.\n \n \n The offering is being 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 proposed offering, and 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 \"Underwriters\").\n \n \n AcuityAds has also granted the Underwriters an over-allotment option, exercisable for a period of 30 days from the date of the closing of the offering, to purchase up to 738,916 additional common shares, representing in the aggregate 15% of the total number of common shares to be sold pursuant to the offering.\n \n \n AcuityAds currently expects that the net proceeds of the offering will be used primarily to strengthen the Company's financial p...