HomeEquities ScoreAmerican Virtual Cloud Technologies Inc. (AVCT) stock soars during after-hour trading. Here’s...

American Virtual Cloud Technologies Inc. (AVCT) stock soars during after-hour trading. Here’s to know why?

American Virtual Cloud Technologies Inc. (NASDAQ: AVCT) stock gained by 0.59% at last close while the VACT stock price rises by 1.46% in the after-hours trading session. American Virtual Cloud Technologies is a leading global IT solutions supplier, specializing in unified cloud communications, professional services, cybersecurity, and increased connectivity.

>> 7 Top Picks for the Post-Pandemic Economy << 

AVCT stock’ Current Update

As an outcome of the Company’s Board of Directors’ decision to discover alternative strategies announced on April 7, 2021, the Board has authorised the Company to concentrate its plan on purchases and organic growth in its cloud technologies business, as well as to discover strategic advantages for its IT solutions business, along with the planned divestiture of Computex Technology Group (Computex). Following receipt of the previously disclosed non-binding proposal, the procedure established did not result in the filing of a firm offer.

Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .


Read More

Kandy, a cloud-based, real-time communications platform with patented UCaaS, CPaaS, and CCaaS capabilities, was bought by AVCtechnologies in December 2020. The acquisition was prompted by a growing demand from enterprises to move their activities to cloud-based technology, security, and communications, a trend amplified by the COVID-19 pandemic.


Darrell J. Mays, AVCtechnologies CEO, said that they are eager to explore this next step in their overall strategy for acquisitive and organic expansion, as well as increase the focus of the Kandy business to fulfil the needs of its customers.

AVCtechnologies is also delighted to confirm that it has finalized the conversion of $133.9 million in outstanding debentures into 38.8 million registered for resale common shares, greatly boosting its equity float. On July 22, 2021, the scheduled debenture conversion was disclosed.

>> 7 Top Picks for the Post-Pandemic Economy << 

Larry Mock, Chairman of the Board at AVCtechnologies stated that,

The Board’s decision to actively pursue strategic partnerships to complement Kandy’s cloud platform, as well as the completed debentures conversion, demonstrate their effort to ensure that their aims are consistent with the best interests of the shareholders as they work to grow the business.


Related Videos

Must Read

Related News


Please enter your comment!
Please enter your name here