AVCT Announces Senior Secured Convertible Note Agreement

ATLANTA, April 15, 2022 (GLOBE NEWSWIRE) -- American Virtual Cloud Technologies, Inc. (Nasdaq: AVCT) (the “Company”) today announced that it has entered into a securities purchase agreement for the sale of a new series of senior secured convertible notes (the “Notes”) to an institutional investor, subject to customary closing conditions. The proceeds, after original issue discount, will total $10 million, before payment of commissions and expenses.

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