TORONTO 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.
"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."
"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."
About AcuityAds:
AcuityAds 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.
AcuityAds is headquartered in Toronto with offices throughout the U.S.,
Europe and Latin America.
For more information, visit AcuityAds.com.
Disclaimer in regards to Forward-looking
Statements
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities laws.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management at this time, are inherently subject to significant
business, economic and competitive uncertainties and
contingencies. Investors are cautioned not to put undue
reliance on forward-looking statements. Except as required by
law, AcuityAds does not intend, and undertakes no obligation, to
update any forward-looking statements to reflect, in particular,
new information or future events. The Company's client that has
been mentioned in this press release has the right to exercise an
out-clause right at any time during the advertising campaign.
Neither TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE AcuityAds Holdings Inc.