AiAdvertising Receives $5M Equity Investment to Fuel Next Phase of Growth
April 11, 2023
Capital will allow for further development of AiAdvertising’s Campaign Performance Platform and create a new focus area serving customers valuing founding American principles
SAN ANTONIO, April 11, 2023 (GLOBE NEWSWIRE) — AiAdvertising, Inc. (OTC: AIAD), a next-generation AdTech company focused on harnessing the power of artificial intelligence (AI) and machine learning (ML) for today’s marketing leaders, announced that the Company has entered into a securities purchase agreement with Hexagon Partners, a Texas-based investment company, for a strategic investment of $5 million and potentially up to $9.25 million. The transaction is expected to close today.
Tim Dunn, a Texas resident, manages Hexagon Partners and Hexagon’s investment demonstrates enthusiasm for AiAdvertising’s Campaign Performance Platform and the future of marketing intelligence and advertising technology. The capital has been committed in the face of economic and banking system uncertainty and will help AIAD position itself as a leader in applying AI and ML technologies to marketing and advertising solutions to deliver superior results to our clients.
AiAdvertising also announced the return of strategic advisor Brad Parscale to lead a plan to deliver additional technology services and strategic relationships to a growing trend of businesses nationwide that embrace foundational American values and self-governance principles such as freedom, faith, and equality. Parscale was the previous CEO of Giles-Parscale, a prior asset acquisition of AiAdvertising, and led Giles-Parscale to significant revenue before its purchase.
Jerry Hug, CEO of AiAdvertising, commented, “This investment by Hexagon Partners is a huge vote of confidence for what our team has been building at AiAdvertising. We have always known we have something special, but it is validating when someone successful sees that and invests in our future relationship together.” Hug continued, “I am excited to see the return of Brad Parscale, who can provide invaluable strategic advice for us. Together with the addition of our new CFO, AIAD is poised to reach a new level of performance in the execution of our strategic vision.”
The investment by Hexagon Partners was structured as the purchase of newly designated Series I Preferred Stock of the Company that converts into AIAD’s common stock at a ratio of 1 to 400. In addition to the initial $5M investment, the transaction provides an option for two additional tranches totaling another $4,250,000 investment, with a total blended underlying as-converted common share price that represents an aggregate investment at a premium to yesterday’s closing price of AIAD’s common stock.
AiAdvertising, Inc. (OTC: AIAD) is a next-generation AdTech company that is harnessing the power of artificial intelligence (AI) and machine learning (ML) to build software for today’s marketing leaders. We focus on eliminating waste and maximizing the return on digital ad spend.
Our flagship product, the Campaign Performance Platform, is a subscription-based, end-to-end Ad Management solution. The platform empowers brands and agencies to efficiently target, predict, create, scale, and measure hyper-personalized campaigns.
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