/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./
TORONTO 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.
The 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.
The net proceeds from the Offering are expected to be used for
working capital and general corporate purposes.
The Shares were sold on a private placement basis pursuant to
"accredited investor" exemptions under National Instrument 45-106
and certain other available and agreed upon exemptions. The
securities referred to in this news release have not been, nor will
they be, registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable
exemption from the U.S. registration requirements. This news
release does not constitute an offer for sale of securities for
sale, nor a solicitation for offers to buy any securities. Any
public offering of securities in the
United States must be made by means of a prospectus
containing detailed information about the company and management,
as well as financial statements.
The Company also issued an aggregate of
16,100 Deferred Share Units ("DSUs") pursuant to the
Company's Deferred Share Unit Plan to the four independent
directors of the Company, in lieu of quarterly cash
compensation. In addition, an aggregate of 14,750 DSUs
were issued to an officer of the Company, in lieu of long term
incentive compensation.
About AcuityAds
AcuityAds is a technology company that enables marketers to
connect intelligently with their most meaningful audiences through
digital media. A Self-Serve programmatic marketing platform,
powered by proprietary machine learning technology, is at the core
of its business, accompanied by a patented solution for mobile
targeting that leverages social data. AcuityAds empowers
marketers by offering transparency on costs and brand safety, and
real-time reporting and analytics, bringing accountability to
programmatic advertising to deliver business results.
AcuityAds is headquartered in Toronto, Canada with
sales offices in New York
City, Boston, Chicago, Los Angeles, San
Francisco, San Diego, Vancouver, Calgary and Montreal. For more
information, visit AcuityAds.com.
Disclaimer in regards to Forward-looking Statements
This news release may contain forward-looking statements (within
the meaning of applicable securities laws) relating to business of
Acuity and the environment in which it operates. Forward-looking
statements are identified by words such as "believe", "anticipate",
"expect", "intend", "plan", "will", "may" and other similar
expressions. These statements are based on the Company's
expectations, estimates, forecasts and projections and include
statements relating to the completion of the Offering and the use
of proceeds from the Offering. They are not guarantees of future
performance and involve risks and uncertainties that are difficult
to control or predict. These risks and uncertainties are discussed
in the Company's regulatory filings available on SEDAR at
www.sedar.com. There can be no assurance that forward-looking
statements will prove to be accurate as actual outcomes and results
may differ materially from those expressed in these forward-looking
statements. Readers, therefore, should not place undue reliance on
any such forward-looking statements. Further, a forward-looking
statement speaks only as of the date on which such statement is
made. Except as required by applicable law, the Company undertakes
no obligation to publicly update any such statement or to reflect
new information or the occurrence of future events or
circumstances.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE AcuityAds Holdings Inc.