viewCloudTag Inc

CloudTag receives £400,000 from loan notes conversion

L1 has consistently exercised its right to convert loan notes into shares

Woman doing yoga
The remaining aggregate unconverted nominal value of the notes issued to L1 is £400,000.

L1 Capital Global Opportunities Master Fund has shown its faith in CloudTag Inc (LON:CTAG) by converting another parcel of loan notes into shares.

£400,000 of notes were converted at a conversion price of 4.5 pence per ordinary share, resulting in the issue of 8.89mln shares in the maker of wearable devices that monitor fitness, health and well-being.

The newly issued shares come with warrants attached, exercisable at a maximum price of 5.5p per share.

Shares in CloudTag were up 6.7% at 5.07p in early trading.

Quick facts: CloudTag Inc

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Market: AIM
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