New York, NY (March 27, 2025) – Saul Ewing LLP successfully represented Cloudastructure, Inc., a cloud-based video surveillance platform with artificial intelligence and computer vision analytics, in securing a $4.5 million investment through the issuance of Series 2 Convertible Preferred Stock. The financing, which comes from an existing institutional investor, is intended to support Cloudastructure’s expansion and innovation efforts.
Under the terms of the agreement, Cloudastructure has issued 4,500 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. The proceeds from this investment will be used to advance Cloudastructure’s AI-driven security solutions, enhance market expansion, and fund general corporate purposes.
“We are pleased to announce this investment, which provides us with additional resources to drive growth and innovation in AI-powered surveillance and security,” said James McCormick, Chief Executive Officer of Cloudastructure. “We view this as a strong validation of our progress and strategic direction, demonstrating confidence from an existing institutional investor in our ability to execute on our vision. This funding will enable us to refine and expand our cutting-edge suite of AI-powered security solutions, which are already transforming enterprise security. Additionally, we plan to scale our operations by expanding our sales, installation, and customer success teams to meet surging demand for our innovative offerings. We are especially grateful to our investor for their continued confidence and support as we execute on our strategic initiatives.”
For more information, see Cloudastructure’s press release.
Saul Ewing's team was led by Partner Vanessa J. Schoenthaler, with support from George A. Naya, Carmen Otey, and Amy L. Payne.
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