MCLD Stock Price, News & Analysis

mCloud Technologies Corp. (symbol: MCLD) is a forward-thinking provider of cloud technology solutions that aims to optimize the performance, reliability, and sustainability of energy-intensive assets. Headquartered in San Francisco, mCloud's innovative technology focuses on uniting people, data, and knowledge to enhance the health and performance of critical equipment.

The company’s core business revolves around its AssetCare® platform, which leverages cloud-based digital twins, artificial intelligence, and advanced analytics. This suite of tools empowers asset owners and operators in various industries, including oil and gas, wind energy, and commercial facilities, to maximize energy production, reduce energy waste, and minimize harmful emissions.

Recent developments at mCloud include the formation of a special committee to explore strategic alternatives aimed at maximizing shareholder value. This includes the potential separation of its industrial and commercial business from its aerospace and defense sector, focusing on NGRAIN, a subsidiary acquired in 2018 that provides specialized solutions for military and defense applications. This restructuring aims to ensure NGRAIN's standalone operation remains highly regulated and continues to secure long-standing, multi-year engagements with high-profile clients.

The company is also working closely with various stakeholders and financial advisors, such as ATB Capital Markets Inc., to explore potential transactions, including asset sales and recapitalization. Recent approvals from the special committee will potentially involve the sale of mCloud's broader industrial and commercial assets, allowing for a more focused approach in each business segment. The anticipated cash proceeds from these sales are intended to address current financial obligations.

mCloud’s common shares are traded on the Nasdaq and the TSX Venture Exchange under the symbol MCLD. The company maintains a global presence with offices across North America, Europe, the Middle East, and the Asia-Pacific region.

For more details, visit the official website at mcloudcorp.com.