The convertible debentures will trade under the symbol “MCLD.DB.A” as of market open on Thursday, December 5.
mCloud (TSXV:MCLD), an investment management company that integrates artificial intelligence systems into its AssetCare platform announced the listing of C$23.5 million convertible debentures on the Toronto Venture Stock Exchange. The debentures will trade under the symbol “MCLD.DB.A” as of December 5, 2019.
As quoted in the press release:
The Debentures were issued pursuant to a debenture offering of the Company completed in tranches on June 21, 2019, June 28, 2019 and July 10, 2019 and mature on June 30, 2022. The Debentures are expected to commence trading on the TSXV under the symbol “MCLD.DB.A” at the open of the market on Thursday December 5, 2019.
Each Debenture is convertible into units of the Company (each, a “Unit“) at the conversion price of $0.50 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant of the Company. The Debentures are governed by a debenture indenture between the Company and AST Trust Company (Canada) dated November 14, 2019.