mCloud Announces Initial $10.5 Million Closing of Public Offering of 9.0% Series A Cumulative Perpetual Preferred Shares and Warrants
mCloud received gross proceeds of $10.5 million, before deducting placement agent fees and other offering expenses, from the sale of 420,000 Series A Preferred Shares and 10,500,000 accompanying warrants at the initial closing.
- mCloud received gross proceeds of $10.5 million, before deducting placement agent fees and other offering expenses, from the sale of 420,000 Series A Preferred Shares and 10,500,000 accompanying warrants at the initial closing.
- Each Series A Preferred Share is being sold together with 25 warrants at a combined price to the public of $25.00.
- Each Series A Preferred Share is convertible following the issuance date into 25 common shares.
- The Series A Preferred Shares and warrants can only be purchased together in this offering but the Series A Preferred Shares and warrants are immediately separable and will be issued separately.