AVCtechnologies Announces Securities Purchase Agreement

ATLANTA, Dec. 14, 2021 (GLOBE NEWSWIRE) -- American Virtual Cloud Technologies, Inc. (“AVCtechnologies” or the “Company”) (Nasdaq: AVCT) today announced that it has entered into a securities purchase agreement for a sale of equity securities to an institutional investor. The initial gross proceeds from the current sale will total $25 million, and combined with the November equity raise, may provide up to approximately $76 million of gross cash proceeds to the company in aggregate, if and when all warrants issued pursuant to the transactions are fully exercised.

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