TORONTO, June 8, 2021 /PRNewswire/ - AcuityAds
Holdings Inc. (TSX: AT) (OTCQX: ACUIF) ("AcuityAds" or the
"Company"), a technology leader that provides targeted digital
media solutions enabling advertisers to connect intelligently with
audiences across digital advertising channels, today announced the
launch of a marketed public offering of AcuityAds' common shares in
the United States and Canada, representing AcuityAds' initial public
offering in the United States.
In connection with the initial public offering in the United States, AcuityAds has filed an
application to list its common shares on The Nasdaq Capital Market
("Nasdaq") under the ticker symbol "AT". Trading of AcuityAds'
common shares is expected to commence on Nasdaq following pricing
of the offering. AcuityAds' common shares will continue to trade on
the Toronto Stock Exchange ("TSX") under the symbol "AT".
A total of US$50 million of common
shares will be offered for sale by the Company in the offering,
which will be 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 (collectively, the "Underwriters"). The
offering will be priced in the context of the market with terms,
including the price and total size of the offering, to be
determined at the time of entering into an underwriting agreement
for the offering.
AcuityAds will also grant 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 US$7.5 million of additional common shares,
representing in the aggregate 15% of the total number of common
shares to be sold pursuant to the offering.
AcuityAds currently expects that the net proceeds of the
offering will be used primarily to strengthen the Company's
financial position and allow the Company to pursue its growth
strategies.
Closing of the offering will be subject to a number of customary
conditions, including the entering into of the definitive
underwriting agreement, the listing of the Common Shares issued by
AcuityAds as part of the offering on Nasdaq and the TSX, and any
required approvals of Nasdaq and the TSX.
AcuityAds filed a short form base shelf prospectus on
December 30, 2020. The preliminary
prospectus supplement to such base shelf prospectus has been filed
with the securities regulatory authorities in each of the provinces
and territories of Canada and the
base shelf prospectus and preliminary prospectus supplement have
been filed with the U.S. Securities and Exchange commission as part
of a registration statement on Form F-10 under the U.S.—Canada
multijurisdictional disclosure system. The public offering will be
made in Canada only by means of
the base shelf prospectus and preliminary prospectus supplement and
in the United States only by means
of the registration statement, including the base shelf prospectus
and preliminary prospectus supplement. Such documents contain
important information about the offering. Copies of the base shelf
prospectus and preliminary prospectus supplement can be found on
SEDAR at www.sedar.com and a copy of the registration statement can
be found on EDGAR at www.sec.gov. Copies of such documents may also
be obtained from any of the following sources: Canaccord Genuity
LLC, Attention: Syndicate Department, 99 High Street,
12th Floor, Boston MA
02110, by email at prospectus@cgf.com; and Needham & Company,
LLC, Attention: Prospectus Department, 250 Park Avenue, 10th Floor,
New York, NY 10177, by telephone
at 800-903-3268.
Prospective investors should read the base shelf prospectus and
the preliminary prospectus supplement as well as the registration
statement before making an investment decision.
No securities regulatory authority has either approved or
disapproved the contents of this press release. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there by any sale of the common shares in
any province, state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to the registration
or qualification under the securities laws of any such province,
state or jurisdiction.
About AcuityAds
AcuityAds is a leading technology company that provides
marketers a one-stop solution for omnichannel digital advertising
with best-of-category return on advising spend. Its journey
automation technology, illumin™, offers planning, buying, and
real-time intelligence from one platform. With proprietary
Artificial Intelligence, illumin™ brings unique programmatic
capabilities to close the gap between advertising planning and
execution. The Company brings an integrated ecosystem of
privacy-protected data, inventory, brand safety, and fraud
prevention partners, offering trusted solutions with proven, above
benchmark outcomes for the most demanding marketers. AcuityAds is
headquartered in Toronto with
offices throughout Canada, 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,
including, without limitation, statements regarding the conduct of
the offering; the intended listing of the common shares on Nasdaq;
obtaining required approvals from Nasdaq and the TSX; the granting
of the underwriters' over-allotment option; and the anticipated use
of proceeds from the offering. Words such as "may", "will",
"expect", "intend" and similar expressions have been used to
identify these forward looking statements, and include statements
regarding the expected use of proceeds of the offering and the
expected timing for closing of the offering. These statements
reflect current beliefs and are based on information currently
available to management of AcuityAds. Forward looking statements
necessarily involve known and unknown risks and uncertainties and
are 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. A number of factors, including
those risks discussed under "Risk Factors" in AcuityAds' Annual
Information Form for the year ended December
31, 2020 could cause actual results, performance,
achievements, prospects or opportunities to differ materially from
those set out in the forward-looking statements. 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.
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SOURCE AcuityAds Inc. (TSXV:AT)