AcuityAds Holdings, a targeted advertising and insights platform, filed on Tuesday with the SEC to raise up to $50 million in an initial public offering.
The company plans to raise $50 million, but did not disclose a share count. Assuming an offering price of $11.55, the as-converted June 7th closing price of the company's stock on the TSX (AT), AcuityAds would offer 4.3 million shares and command a market value of $682 million.
AcuityAds leverages an integrated ecosystem of partners for data, inventory, brand safety and fraud prevention to allow marketers to reach relevant audiences across video, mobile, social and online advertising campaigns. The company's technology allows for near real-time reporting and analytics and enables automated buying and selling of advertising inventory through its new platform, illumin, which was introduced in October 2020.
The Toronto, Canada-based company was founded in 2011 and booked $90 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol AT. Canaccord Genuity and Needham & Co. are the joint bookrunners on the deal.
