Welcome to our dedicated page for MCLD news (Ticker: MCLD), a resource for investors and traders seeking the latest updates and insights on MCLD stock.
mCloud Technologies Corp. (MCLD) delivers cloud-powered solutions to optimize energy performance and sustainability for industrial assets worldwide. This page provides comprehensive access to official company announcements, strategic updates, and technology developments.
Investors and industry professionals will find timely updates on mCloud's AssetCare® platform innovations, corporate restructuring efforts, and financial initiatives. Key areas of coverage include strategic business separations, technology partnerships, and progress toward maximizing shareholder value through asset optimization.
Our curated news collection features press releases regarding mCloud's dual focus: advancing its core industrial/commercial solutions through AI-driven analytics while maintaining NGRAIN's specialized defense applications. Stay informed about critical developments including potential asset sales, recapitalization progress, and sustainability initiatives across global energy sectors.
Bookmark this page for direct access to verified MCLD updates. Check regularly for new announcements regarding operational milestones, leadership decisions, and market expansion efforts that shape the company's trajectory in cloud-enabled asset management.
On March 29, 2023, mCloud Technologies Corp. (NASDAQ: MCLD) announced the formation of a Special Committee to explore strategic alternatives, having retained ATB Capital Markets Inc. and Maxim Group LLC as financial advisors. The Company aims to maximize value for securityholders through this exploration, though no specific timetable or assurances for a successful transaction were provided. Additionally, mCloud may delay its 2022 audited annual financial statements due to unexpected departures of key finance staff, prompting an application for a management cease trade order with the British Columbia Securities Commission. The Company continues its migration to Google Cloud, enhancing applications related to energy management.
mCloud Technologies Corp. (Nasdaq: MCLD) received a notice from Nasdaq on March 23, 2023, indicating non-compliance with the Minimum Bid Price Rule due to its stock price being below $1.00 for the past 30 days. The company has until September 19, 2023, to regain compliance by maintaining a bid price of at least $1.00 for ten consecutive business days. If unsuccessful, mCloud may seek additional time by meeting market value requirements or consider a reverse stock split. The notice does not affect current trading on Nasdaq under symbols MCLD and MCLDW, but compliance with listing standards remains uncertain.
mCloud Technologies Corp. (NASDAQ: MCLD) announced its partnership with the Mercedes-AMG PETRONAS Formula One Team on February 27, 2023. This collaboration aims to leverage mCloud's cloud technology solutions to enhance energy efficiency, address carbon emissions, and promote sustainability. mCloud has already implemented its AssetCare® solution at the team's facility in Brackley, UK, with plans for further enhancements. The partnership positions mCloud as a key contributor to the team's Sustainability Working Group, focusing on achieving net-zero emissions in professional sports.
mCloud Technologies Corp. (NASDAQ: MCLD) announced an update on its financing activities as of February 3, 2023. The company has closed a US$10.5 million public offering of 9.0% Series A Cumulative Perpetual Preferred Shares and intends to pursue further proceeds under its Form F-1 registration with the SEC. Additionally, mCloud is progressing on a non-brokered offering of common shares, expected to close by the end of February. Proceeds will be utilized for debt retirement and to support the company's initiatives in sustainability and decarbonization, particularly in Saudi Arabia.
mCloud Technologies Corp. (NASDAQ: MCLD) will showcase its AssetCare® Fugitive Emissions solution at the LEAP 2023 tech conference in Saudi Arabia from February 6-9, 2023. This innovative cloud-based solution, powered by Google Cloud and Google Earth Engine, enhances the detection and management of methane leaks through AI and digital twin technology. The solution aims to improve emission reporting accuracy and efficiency. Following a strategic partnership with Google Cloud in 2022, mCloud is positioned to contribute significantly to sustainability efforts in the energy sector, particularly in methane abatement.
mCloud Technologies Corp. (Nasdaq: MCLD) announced election results for its board of directors during the Annual General Meeting held on December 30, 2022. All the nominees listed in the Management Information Circular dated December 2, 2022, were successfully elected, with voting percentages for the nominees ranging from 86.72% to 90.02%. Additionally, shareholders approved the appointment of KPMG LLP as auditors with 95.66% in favor and the amended equity incentive plan with 83.89% approval. This solidifies mCloud's governance and strategic direction moving forward.
mCloud Technologies Corp. (Nasdaq: MCLD) announced the initial closing of a public offering, raising $10.5 million from the sale of 420,000 Series A Cumulative Perpetual Preferred Shares with an associated warrant package. The offering includes up to $25 million worth of shares and warrants, aimed at paying off CAD$23.95 million in convertible debenture debt. The shares are convertible into 25 common shares each and will trade under the symbol 'MCLDP' starting December 30, 2022.
mCloud Technologies Corp. (Nasdaq: MCLD) announced a public offering of up to $25 million in 9.0% Series A Cumulative Perpetual Preferred Shares at $25.00 each, along with up to 25 million warrants. Each share will be convertible into 25 common shares and comes with 25 warrants priced at $4.75 each, expiring November 29, 2026. Proceeds will target working capital, specifically to pay off CAD$23,955,241 in convertible debenture debt. The Series A shares are expected to list on Nasdaq under the symbol MCLDP.
mCloud Technologies Corp. (Nasdaq: MCLD) announced the upcoming closure of the first tranche of a non-brokered offering of common shares, initially announced on November 1, 2022, and increased to US$18 million. The first tranche is expected to raise approximately US$8 million through the issuance of around 7 million shares at US$1.14 each. The offering may be further upsized to US$20 million. Proceeds will support the company's sustainability initiatives on Google Cloud. The offering is subject to regulatory approval, and securities will have a four-month hold period.
