CLOUDCOMMERCE, INC. (OTCMKTS:CLWD) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement.
On February 19, 2021, CloudCommerce, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) for the purchase and sale of an aggregate of 85,000,000 shares of common stock (the “Shares”), (ii) pre-funded warrants to purchase up to 57,857,143 shares of common stock (the “Pre-funded Warrants), and (iii) warrants to purchase up to 142,857,143 shares of common stock (the “Common Warrants”), in a registered direct offering at a purchase price of $0.07 per Share and Common Warrant, or $0.069 per Pre-Funded Warrant and Common Warrant. The Common Warrants were be exercisable for a period of five years commencing upon issuance, at an exercise price of $0.07 per share, subject to certain adjustments set forth therein.
On March 5, 2021, we and the purchaser entered into an amendment agreement to the Purchase Agreement (the “Amendment Agreement”) to reduce the exercise price of the Common Warrants from $0.07 to $0.0454 per share of common stock. We also agreed to issue an additional 28,571,421 Common Warrants to the purchaser. No other changes to the Common Warrants or other terms of the Purchase Agreement were made.
The foregoing description of the Purchase Agreement, Common Warrant, Pre-funded Warrant, and Amendment Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text thereof, which are filed as exhibits to this report and the Company’s Form 8-K filed on February 22, 2021.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| 10.1 | Form of Amendment Agreement |
CLOUDCOMMERCE, INC. Exhibit
EX-10.1 2 ea137167ex10-1_cloudcommerce.htm FORM OF AMENDMENT AGREEMENT Exhibit 10.1 AMENDMENT NO. 1 TO SECURITIES PURCHASE AGREEMENT THIS AMENDMENT NO. 1 TO SECURITIES PURCHASE AGREEMENT (this “Amendment”) is made as of March 5,…
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About CLOUDCOMMERCE, INC. (OTCMKTS:CLWD)
CloudCommerce, Inc. is a global provider of cloud-driven e-commerce and mobile commerce solutions. The Company focuses primarily on four main areas: engaging frontend design, backend integration, digital marketing and analytics, and complete solutions management. The Company’s core solutions build enterprise back-end application integrations, drive traffic mobile e-commerce, desktop e-commerce and manage hosting. The Company’s digital marketing services include search engine optimization, e-mail campaign creation and social promotions. In addition to digital marketing services, it also applies data analytics to enable businesses understand the behavior of their online customers. In addition to development, the Company also manages its client solutions with services, such as technology consulting, ongoing maintenance, hosting infrastructure build out and management. It customizes solutions using middleware or custom engineering to achieve any level of integration the customers desire.