CLOUD APP DEVELOPMENT

AVCT Announces Securities Purchase Agreement

American Virtual Cloud Technologies, Inc. | March 01, 2022

American Virtual Cloud Technologies, Inc. announced that it has entered into a securities purchase agreement for a sale of equity securities to an institutional investor. The net proceeds, after original issue discount, will total $15 million initially, plus an additional $5 million subject to the satisfaction of certain conditions, including receipt of stockholder approval pursuant to Nasdaq listing rules. AVCT will issue shares of a new series of convertible preferred stock, together with warrants, pursuant to the terms of the securities purchase agreement.

AVCT previously announced a definitive agreement to sell its Computex business to Calian Group Ltd. a move that will transition AVCT to a pure-play cloud communications and collaboration company, centered on its premium Kandy cloud-based, real-time communications platform.

The Company expects that this security sale and the expected net proceeds from its planned divestiture of its Computex business will be used to retire all of its existing debt.

Any additional capital received from the sale of these securities and the Computex sale will be used to support the growth of our Kandy business unit.”

Darrell J. Mays, AVCT CEO

Northland Capital Markets served as sole placement agent in the transaction.

About American Virtual Cloud Technologies, Inc.
American Virtual Cloud Technologies, Inc. is a premier global cloud communications offering proprietary UCaaS, CPaaS, and CCaaS capabilities. Our mission is to provide global technology solutions with a superior customer experience.

About Kandy
Kandy is a cloud-based, real-time communications platform offering proprietary UCaaS, CPaaS, CCaaS, Microsoft Teams Direct Routing as a Service, and SIP Trunking as a Service capabilities. Kandy enables service providers, enterprises, software vendors, systems integrators, partners, and developers to enrich their applications and services with real-time contextual communications, providing a more engaging user experience. With Kandy, companies of all sizes and types can quickly embed real-time communications capabilities into their existing applications and business processes. 

Spotlight

Cloud initiatives require more than just the right technology. They also must be supported by organizational changes, such as people and process changes. This paper is intended for IT service management (ITSM) professionals who are supporting a hybrid cloud environment that leverages AWS. It outlines best practices for asset and configuration management, a key area in the IT Infrastructure Library (ITIL), on the AWS cloud platform.


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CLOUD SECURITY

Snowflake and Carahsoft Team to Streamline the Procurement of Snowflake Data Cloud in AWS Marketplace

Snowflake | June 03, 2022

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CLOUD APP MANAGEMENT

Axiom Space Selects Box to Power Cloud Content Management

https://www.businesswire.com/news/home/20220601005510/en/Axiom-Space-Selects-Box-to-Power-Cloud-Content-Management | June 06, 2022

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CLOUD STORAGE

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ManageEngine | August 09, 2022

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CLOUD SECURITY

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BeBop Technology | July 06, 2022

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Spotlight

Cloud initiatives require more than just the right technology. They also must be supported by organizational changes, such as people and process changes. This paper is intended for IT service management (ITSM) professionals who are supporting a hybrid cloud environment that leverages AWS. It outlines best practices for asset and configuration management, a key area in the IT Infrastructure Library (ITIL), on the AWS cloud platform.

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