ACUIF - AcuityAds Announces Closing of $23 million Bought Deal Offering including Exercise of Over-Allotment Option

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TORONTO and NEW YORK , Dec. 4, 2020 /CNW/ - AcuityAds Holdings Inc. (TSX: AT) (OTCQX: ACUIF) ("AcuityAds" or "Company"), is pleased to announce that the Company, along with 2794606 Ontario Ltd., an entity which Tal Hayek , Joe Ontman and Rachel Kapcan own, and Ov2 Capital Inc., an entity which Sheldon Pollack controls or directs (the "Selling Shareholders") have closed the previously announced bought deal offering of 3,280,000 common shares (the "Shares") of AcuityAds, at a price of $6.10 per Share (the "Offering Price") for total gross proceeds of approximately $23 million , including the full exercise by the Underwriters (as defined below) of the over-allotment option (the "Offering"). The Offering was completed by a syndicate of underwriters led by TD Securities Inc. and Canaccord Genuity Corp. (the "Lead Underwriters"), and including Echelon Wealth Partners Inc., Eight Capital, Paradigm Capital Inc., Cormark Securities Inc., Haywood Securities Inc. and INFOR Financial Inc. (together with the Lead Underwriters, the "Underwriters").

In connection with the closing of the Offering, the Underwriters fully exercised their over–allotment option to purchase an additional 492,000 Shares (representing 15% of the base Offering) at the Offering Price from the Selling Shareholders.

The net proceeds from the Treasury Offering are expected to be used to fund the Company's growth strategy including to fund future acquisitions and for general corporate purposes.

In consideration for their services, the Underwriters received cash commission equal to 6% of the gross proceeds of the Offering.

The securities offered have not been and will not be registered under the 1933 Act, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

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. 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 expecting timing for closing 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, 2019 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.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

SOURCE AcuityAds Holdings Inc.

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