TORONTO, June 9, 2021 /PRNewswire/ - 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 the United States and Canada. The underwriters have agreed to
purchase, at a price of US$10.15 per
share, an aggregate of 4,926,109 common shares (the "Common
Shares") from the Company for aggregate gross proceeds of
US$50,000,006.
The Common Shares of the Company are expected to begin trading
on The Nasdaq Capital Market ("Nasdaq") under the symbol "ATY" on
June 10, 2021, and will continue to
trade on the Toronto Stock Exchange under the symbol "AT". The
offering is expected to close on June 14,
2021, subject to customary closing conditions.
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").
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.
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.
In connection with the offering, AcuityAds has filed a
preliminary prospectus supplement and will file a final prospectus
supplement to its short form base shelf prospectus dated
December 30, 2020. The preliminary
prospectus supplement was filed, and the final prospectus
supplement will be 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 is being
made in each of the provinces and territories of Canada, other than Québec, 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.
The Company is also pleased to announce the termination of the
automatic securities disposition plans (each a "Plan") of
Tal Hayek, Joe Ontman, and Rachel Kapcan (collectively, the
"Co-Founders") which initially became effective on September 19, 2020. Under each of the Plans, an
independent broker engaged by each Co-Founder could sell, on behalf
of the Co-Founder, up to 15,000 common shares of AcuityAds on the
open market per month over a period of twelve months at prevailing
market prices (subject to certain minimum price thresholds). The
Co-Founders have advised the Company that, following the
announcement of the offering, they are not aware of, or in
possession of, any material non-public information regarding the
Company or its subsidiaries, or any securities of the Company, as
at the date hereof.
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;
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 Holdings Inc.