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AcuityAds Completes Acquisition of Visible Measures and Bought Deal Private Placement

Published: 03/31/2017

Team: Gary Steinhart, Lindsay Clements, Jeff Mikelberg, Peter J. Sullivan, Bryan Woodman

On March 31, 2017, AcuityAds Holdings Inc., through a wholly-owned subsidiary, acquired Visible Measures Corp., a Boston-based programmatic platform provider for analytics-led video advertising for approximately US$10 million.

On March 31, 2017, AcuityAds also completed a bought deal private placement offering (the "Offering"), including the exercise in full by the underwriters of the over-allotment option. A total of 3,444,000 common shares were sold at a price of $3.40 per share for aggregate gross proceeds of approximately C$11.71 million.

The Offering was completed by a syndicate of underwriters co-led by Paradigm Capital Inc. and Haywood Securities Inc., and including Gravitas Securities Inc. and Echelon Wealth Partners.

A secondary offering of 1,000,000 common shares of AcuityAds owned by certain founding shareholders of AcuityAds (the "Selling Shareholders") closed concurrently with the Offering, for aggreagate gross proceeds to the Selling Shareholders of C$3,400,000.

Cassels Brock acted for AcuityAds and the Selling Shareholders with a deal team composed of Gary Steinhart, Lindsay Clements, Zohar Barzilai and Jeff Mikelberg (Business Law) and Peter Sullivan and Bryan Woodman (Financial Services).