Cloudastructure secures $3M preferred investment from existing investor

Cloudastructure (CSAI) has secured an additional $3M investment from an existing institutional investor through the issuance of Series 2 Convertible Preferred Stock. The additional capital is intended to support Cloudastructure’s ongoing expansion and advancement of its next-generation AI-powered security solutions. Under the terms of the agreement, Cloudastructure has issued 3,000 shares of Series 2 Convertible Preferred Stock at a purchase price of $1,000 per share. The Series 2 Preferred Stock carries a 9.5% annual preferred return and is convertible into shares of the Company’s Class A common stock, subject to specified terms and conditions. Maxim Group acted as sole placement agent in connection with the preferred investment.