Vertical Data closes $4.12M stock offering with no warrants issued

Vertical Data Inc. (OTCQB: VDTA) has closed a private placement of 1,373,152 shares of common stock at $3.00 per share, raising approximately $4.12 million in gross proceeds, according to a company press release.

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

Shares were sold to accredited investors and to persons outside the United States under exemptions from registration provided by Section 4(a)(2) of the Securities Act of 1933, Rule 506 of Regulation D, and Regulation S. The company said it intends to file a resale registration statement with the U.S. Securities and Exchange Commission within 90 days of closing.

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."

Vertical Data describes itself as an AI infrastructure company operating three platforms covering GPU provisioning, GPU financing, and data center equity holdings.

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