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AcuityAds Holdings Inc. Announces Closing of $4.6 Million Bought-Deal Financing and Full Exercise of Over-Allotment Option Led by Gravitas Securities Inc.
AcuityAds Holdings Inc. Announces Closing of $4.6 Million Bought-Deal Financing and Full E...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"\n\n\n\nAcuityAds Holdings Inc. Announces Closing of $4.6 Million Bought-Deal Financing and Full Exercise of Over-Allotment Option Led by Gravitas Securities Inc.\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, Dec. 21, 2016\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nTORONTO and NEW YORK, Dec. 21, 2016 /CNW/ - AcuityAds Holdings Inc. (TSX-V: AT) (\"Acuity\" or the \"Company\") a technology leader that provides targeted digital media solutions enabling advertisers to connect intelligently with audiences across video, mobile, social and online display campaigns announced today that it has closed the previously announced bought deal private placement, including the exercise in full of the underwriters' over-allotment option (the \"Offering\"), for a total of 2,173,500 common shares (the \"Shares\") of the Company, at a price of $2.12 per Share (the \"Offering Price\") for aggregate gross proceeds to Acuity of $4,607,820, which includes $601,020 in funds raised from the exercise of the over-allotment option. \n\nThe Offering was underwritten by a syndicate of underwriters led by Gravitas Securities Inc. (\"GSI\" or the \"Lead Underwriter\") and included Haywood Securities Inc. and Paradigm Capital Inc. (collectively, the \"Underwriters\"). In consideration for their services, the Underwriters received a cash compensation equal to 7% of the gross proceeds of the Offering, and the Company will issue such number of broker warrants (the \"Broker Warrants\") equal to 7% of the Shares sold on the Offering. Each Broker Warrant is exercisable into Shares at the Offering Price for a period of 24 months from closing of the Offering. The Company will also issue 40,000 common shares to GSI. \n\nThe net proceeds from the Offering are expected to be used for working capital and general corporate purposes. \n\nThe Shares were sold on a private placement basis pursuant to \"accredited investor\" exemptions...