Vertical Data Closes $4.12 Million Private Placement

Non-Brokered Common Stock Offering to Accredited Investors, No Warrants or Convertible Securities Issued

Vertical Data Inc. (OTCQB: VDTA) (“Vertical Data” or the “Company”) today announced the closing of a private placement of an aggregate of 1,373,152 shares of its common stock at a price of $3.00 per share for aggregate gross proceeds of approximately $4.12 million.

The offering consisted solely of common stock. No warrants, convertible securities or other equity-linked instruments were issued in connection with the offering. The offering was non-brokered and no placement agent fees or commissions were paid.

The Company intends to use the net proceeds for general corporate purposes and working capital.

“How a company raises capital reflects how it operates,” said Deven Soni, Chairman and CEO of Vertical Data. “We designed this offering to be straightforward. Common stock, non-brokered, no warrants or convertible securities. That structure reflects how we approach capital formation across the platform.”

The shares were offered and sold to accredited investors and to persons outside the United States in reliance on the exemptions from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), Rule 506 of Regulation D promulgated thereunder and Regulation S under the Securities Act. The Company intends to file a registration statement with the U.S. Securities and Exchange Commission covering the resale of the shares within 90 days of the closing.

About Vertical Data Inc.

Vertical Data Inc. (OTCQB: VDTA) is an AI infrastructure company operating three platforms. VerticalData.io provides enterprise GPU provisioning and managed infrastructure. GPUfinancing.com arranges structured financing for GPU deployments. Vertical Edge holds equity in the data centers the Company sources, develops, leases and manages. Together, the three platforms deliver hardware, financing and facilities under one company. For more information, https://verticaldata.io/investor-relations/  

Website: verticaldata.io/investor-relations

Source : Vertical Data Inc

CanadianSME

With an aim to contribute to the development of Canada’s Small and Medium Enterprises (SME’s), Cmarketing Inc is a potential marketing agency and a boutique business management company progressing rapidly in its scope. By acknowledging a firm reliance of the Canadian economy over its SMEs, the agency has resolved to launch a magazine, the pure focus of which will be the furtherance of Canadian SMEs, and to assist their progress with the scheduled token of enlightenment via the magazine’s pertinent content.

See Full Bio