CloudMD Closes Oversubscribed $20.8 Million Financing

CloudMD Software & Services (TSXV: DOC) this morning closed its previously announced short form prospectus, which was conduced on a bought deal basis. The financing saw the company raise $20.8 million in what was an oversubscribed placement that saw the full over-allotment option exercised.

The financing, led by Canaccord Genuity and Beacon Securities, saw a total of 15,065,000 common shares of the issuer sold at a price of $1.38 per share, with no warrant being offered in the finance.. Aggregate gross proceeds of $20,789,700 were collected as a result. 1,054,550 broker warrants were issued in connection with the financing, valid for a period of two years while containing an exercise price of $1.38 per share.

Proceeds from the financing are said to be intended for strategic M&A activities, as well as general corporate purposes. Notably, M&A is said to be focused on both North American and global expansion plans, based on commentary provided on the closing of the financing by CEO Essam Hamza.

CloudMD Software & Services last traded at $2.05 on the TSX Venture.


Information for this briefing was found via Sedar and CloudMD Software & Services. The author has no securities related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Full Disclosure: CloudMD Software & Services is a former client of Canacom Group.

Video Articles

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Canaccord Raises CloudMD Price Target To $1.75 Following Financial Results

On Monday, CloudMD Software & Services (TSXV: DOC) reported its second-quarter financials. CloudMD’s revenue was...

Thursday, September 3, 2020, 02:37:00 PM

CloudMD Sees Increasing Demand For Telemedicine Offering

CloudMD Software & Services (CSE: DOC) announced this morning that its telemedicine platform has seen...

Tuesday, April 7, 2020, 09:05:52 AM

CloudMD Announces Immediate Resignation Of CFO For Personal Reasons

CloudMD (TSXV: DOC) this morning announced the transition of its chief financial officer, Daniel Lee....

Tuesday, February 1, 2022, 09:01:43 AM

CloudMD Closes On $60 Million Acquisition Of VisionPros

CloudMD Software & Services (TSXV: DOC) this morning announced the closing of the acquisition of...

Thursday, June 24, 2021, 08:14:28 AM

CloudMD’s Livecare Added To Approved Vendor Lists For Leading Government Associations

CloudMD Software & Services (CSE: DOC) this morning updated the market on the significant growth...

Thursday, April 30, 2020, 09:00:17 AM