Cloud DX (OTCMKTS:CDXFF) Stock Jumps After Closing of Private Placement

Remote patent monitoring services and virtual care company Cloud DX (OTCMKTS:CDXFF) had seen its stock go on a roll last week, during the course of which it clocked gains of as much as 11%. The company was actually in the news on Friday after it made a major announcement and it may be a good time to look into it.

Trading Data

On Friday, CDXFF stock ended flat at $0.2557 with 30 shares, compared to its average volume of 6.1K shares. The stock moved within a range of $0.2557 – 0.2557 after opening trade at $0.1506.

Cloud DX Announces Closing of Private Placement

The company announced that it had been successful in closing a private placement of a non-brokered nature of as many as 260 units in the company. The units were sold at $1000 each and Cloud DX managed to raise gross proceeds to the tune of as much as $260,000.

Each unit sold by the company was made up of an unsecured convertible debenture worth C$1000 in terms of principal amount and on top of that, a total of 1430 common share purchase warrants for Cloud DX stock. The maturity date for the debenture has been set for January 27, 2025 and it is also necessary to keep in mind that it is also going to carry an interest rate of as much as 10% per annum. It remains to be seen if the stock performs strongly this week or not.