ATY - AcuityAds recovers all cash deposits with Silicon Valley Bank

2023-03-16 10:33:02 ET

• AcuityAds ( NASDAQ: ATY ) said Thursday all of its cash deposits with failed lender Silicon Valley Bank ( SIVB ) have been recovered .
• The monies have been placed at a Canadian Schedule I bank, the company said.
• "We can now turn our attention back to growing our business and continuing to increase our market share," said CEO Tal Hayek.
• Shares of AcuityAds ( ATY ) -2.6% in morning trade.
• The company earlier disclosed that it maintained U.S. bank accounts amounting to $55M on deposit at SVB( SIVB ). It said it maintained bank accounts outside of the bank amounting to C$6.7M .

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