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Bentley Sheldon Richard, the founder and a significant shareholder of Cloudastructure , Inc. (NASDAQ:CSAI), a company currently valued at $43.6 million, has recently sold shares of the company’s Class A common stock. According to a Form 4 filing with the Securities and Exchange Commission, Bentley sold a total of 40,019 shares over two days, resulting in proceeds of approximately $114,611. InvestingPro data shows the stock has experienced significant volatility, with average daily trading volume of 1.26 million shares.
The transactions took place on May 27 and May 28, with the shares sold at a weighted average price range between $2.77 and $2.97. Following these transactions, Bentley retains ownership of 280,432 shares in the company. The stock is currently trading at $2.83, down nearly 92% year-to-date and significantly off its 52-week high of $52.43.
These sales are part of Bentley’s ongoing management of his investment in Cloudastructure, where he holds a significant stake. The transactions were executed directly, as indicated in the SEC filing. While the company maintains strong liquidity with a current ratio of 7.12, InvestingPro analysis indicates 12 additional key insights about the company’s financial health and market position.
In other recent news, Cloudastructure, Inc. has reported several significant developments. The company announced its expansion into the construction sector with the sale of its Mobile Surveillance Trailer Alpha™ to a leading U.S. construction firm. This move aims to address the security needs of construction sites using AI-enhanced surveillance solutions. Additionally, Cloudastructure secured a $3 million investment from an existing institutional investor through Series 2 Convertible Preferred Stock, following a previous $4.5 million raise. The funds are intended to support the company’s growth and enhance its AI security solutions.
Cloudastructure has also expanded its partnership with a top U.S. real estate firm to deploy its surveillance technology across seven multifamily communities. This initiative responds to security incidents that highlighted the need for scalable security solutions. Furthermore, Cloudastructure and Streeterville Capital have modified the terms of their securities purchase agreement, adjusting the conversion price conditions for Series 1 Convertible Preferred Stock.
These developments reflect Cloudastructure’s strategic efforts to expand its market presence and reinforce its AI-powered security offerings. The company’s recent direct listing on the Nasdaq Capital Market underscores its commitment to growth and shareholder value. Investors can find more details in the company’s filings with the U.S. Securities and Exchange Commission.
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