Avctechnologies announces securities purchase agreement

Atlanta, dec. 14, 2021 (globe newswire) -- american virtual cloud technologies, inc. (“avctechnologies” or the “company”) (nasdaq: avct) today announced that it has entered into a securities purchase agreement for a sale of equity securities to an institutional investor. the initial gross proceeds from the current sale will total $25 million, and combined with the november equity raise, may provide up to approximately $76 million of gross cash proceeds to the company in aggregate, if and when all warrants issued pursuant to the transactions are fully exercised.
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