AcuityAds Holdings, a Canadian targeted advertising and insights platform, raised $50 million by offering 4.9 million shares at $10.15, below the $11.54 as-converted last close of its shares on the Toronto Stock Exchange (AT).
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.
AcuityAds Holdings plans to list on the Nasdaq under the symbol ATY. Canaccord Genuity, Needham & Co., RBC Capital Markets, and TD Securities acted as joint bookrunners on the deal.
