CloudTag raises £0.68m through subscription and warrants

Wellbeing, fitness and digital health personal monitoring company CloudTag announced on Tuesday that, following an earlier announcement, it had fully subscribed its subscription, raising £550,000 through the issue of 3,548,388 new ordinary shares at a price of 15.50p per share.

The AIM-traded firm said there were no commissions or expenses payable in relation to the subscription and the proceeds will be used for general working capital purposes.

Additionally, the company said it has received - from an existing investor - a notice to exercise warrants over 1,000,000 new ordinary shares at an exercise price of 8p per ordinary share, raising a further £80,000.

CloudTag said the warrants were issued in relation to a fundraising as announced by the company on 31 March 2014.