American Virtual Cloud Technologies surges after launching strategic review
26/08/2022 11:35
** Shares of cloud-based communications platform American
Virtual Cloud Technologies AVCT.O rise 43.2% to ~19 cents
premarket
** On Thursday, AVCT said it is launching a review to
explore the sale of the company or selected assets
** Co also reshuffled management team; it named Kevin
Keough, who was previously chief transformation officer, as CEO
** Co says it is seeking advise from Northland Capital
Markets to conduct a review of strategic alternatives
** Up to last close, stock down ~94% YTD
(Reporting by Chavi Mehta in Bengaluru)
((Chavi.Mehta@thomsonreuters.com;))
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