mCloud Technologies Corp. (Nasdaq: MCLD) (TSX-V: MCLD), (“mCloud” or the “Company”) a leading provider of AI-powered asset management and Environmental, Social, and Governance (“ESG”) solutions today provided an update on the planned repayment of its outstanding unsecured convertible debentures due on June 30 , 2022 (the “Debentures”).
mCloud filed an F-1 registration statement with the SEC on May 11 in connection with its previously announced preferred share offering. The Company has received and responded to comments toward the anticipated clearing of the registration statement and anticipates completing the offering following the registration statement becoming effective, with proceeds largely from existing and additional strategic investors. The Company intends to use a portion of the proceeds of the offering to repay in full the outstanding principal and accrued interest under the Debentures.
To receive payment, holders of Debentures must surrender the certificates evidencing their Debentures to TMX Trust Company, the Debenture agent, at the following address: TSX Trust Company, 1 Toronto Street, Suite 1200, Toronto, Ontario, M5C 2V6, Attention: Corporate Actions.
