Mcloud announces initial $10.5 million closing of public offering of 9.0% series a cumulative perpetual preferred shares and warrants

San francisco , dec. 28, 2022 /prnewswire/ - mcloud technologies corp. (nasdaq: mcld) (tsxv: mcld), ("mcloud" or the "company") a provider of cloud technology solutions optimizing the performance, reliability, and sustainability of energy-intensive assets today announced the initial closing of its public offering of up to $25,000,000 9.0% series a cumulative perpetual preferred shares, with a liquidation preference of $25.00 per share (the "series a preferred shares"), and up to 25,000,000 warrants to purchase one common share. 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.
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