- AcuityAds (AT) is confirming US$55 million of deposits in the recently collapsed Silicon Valley Bank
- The company has reoriented to rely solely on its other banking relationships
- It expects its Silicon Valley exposure to be resolved without financial losses
- AcuityAds is a global advertising technology company harnessing artificial intelligence to enhance consumer interactions
- AcuityAds Holdings (AT) is up by 8.76 per cent, trading at $2.11 per share
AcuityAds (AT) is confirming US$55 million of deposits in the recently collapsed Silicon Valley Bank.
The U.S. Federal Deposit Insurance Corporation (FDIC) took control of the bank’s over US$150 billion in assets last Friday, marking the second-largest bank failure in the country’s history.
The U.S. Treasury, U.S. Federal Reserve and the FDIC stated that depositors will be fully protected regardless of deposit insurance limits, with access to all funds beginning today.
AcuityAds has reoriented to rely solely on its other banking relationships and expects its Silicon Valley exposure to be resolved without any financial losses.
Toronto-based AcuityAds is a global advertising technology company using artificial intelligence to help marketers understand and capitalize on the consumer journey.
AcuityAds Holdings (AT) is up by 8.76 per cent, trading at $2.11 per share as of 10:46 am EST.