Closes OverAllotment Option for Underwritten Public Offering Company to also provide update on AssetCare™ Fugitive Gas solution on December 7, 2021
CALGARY, AB, Dec. 6, 2021 /PRNewswire/ - mCloud Technologies Corp. (Nasdaq: MCLD) (TSXV: MCLD) ("mCloud" or the "Company"), a leading provider of AI-powered asset management and Environmental, Social, and Governance ("ESG") solutions today announced, further to the close of its underwritten public offering of 2,100,000 units at a price of US$4.50 per unit (the "Offering Price") as announced on November 29, 2021, Maxim Group LLC (the "Underwriter") exercised their over-allotment option in full to purchase an additional 315,000 common shares at the Offering Price.
The proceeds from the over-allotment option were US$1,417,500. The aggregate gross proceeds of the public offering including the over-allotment option were US$10,917,500.