AcuityAds Makes $57.5m from IPO

Targeted ad solutions firm AcuityAds has announced the closing of its US and Canadian Initial Public Offering, announced earlier this month.

5,665,025 common shares of AcuityAds were sold at a price of US$10.15 per share, exceeding a target set just over a week ago, of $50m. The firm says net proceeds will be used primarily to strengthen its financial position and allow it to pursue growth strategies including possible acquisitions of or investments in other companies, products or technologies.

AcuityAds is headquartered in Toronto with offices throughout Canada, the US, Europe and Latin America, and helps clients target audiences via mobile, social media, display and video ads. Its journey automation technology, illumin, offers planning, buying and real-time intelligence. In 2017, it acquired analytics specialist Visible Measures Corporation for around $10m.

Founders Tal Hayek, Joe Ontman and Rachel Kapcan (pictured) are permitted to sell up to 15,000 common shares per month over a twelve-year period.

Web site: www.acuityads.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.