L1 Capital Global Opportunities Master Fund has shown its faith in () 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.
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