3rd May 2016 08:08
LONDON (Alliance News) - CloudTag Inc, which makes personal monitoring products for the health and wellbeing market, on Tuesday said it raised GBP50,000 with a new investor through the issue of 1.6 million new shares at 3.1 pence per share.
The shares were sold at a premium to the mid-market closing price of 2.25 pence on Friday. The new investor was not named. Shares in CloudTag were up 13% at 2.55 Tuesday morning.
Additionally, CloudTag said it converted GBP200,000 of loan notes into 12.2 million new shares. The company said the conversion comes as it "looks to remove debt from its books".
By Samuel Agini; [email protected]; @samuelagini
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