Pryor Cashman represented InterCloud Systems Inc. in connection with its raising $2.5 million to fund a telecommunications IT operation that includes an infrastructure project for Yonkers, NY, as well as a WiFi project for global headhunter Russell Reynolds Associates. The placement agent was Aegis Capital Corp.

InterCloud offers cloud and managed services, professional consulting services and voice, data and optical solutions to assist its customers in meeting their changing technology demands. 

A PIPE is a private investment in public equity whereby a public company sells newly-issued equity securities to accredited investors in a private placement transaction that is exempt from the registration requirements of the Securities Act of 1933. The investors typically require the company to file a registration statement after the transaction is completed to allow the investors to resell the securities in the public market, either through a securities exchange or over the counter.

InterCloud was represented in the transaction by Partner Ali Panjwani and Associate Asher Bundlie, both from Pryor Cashman's Corporate Group.

The transaction was reported in the August 13, 2015 issue of The Deal. To read the article, please click here.