Universal mCloud Corp. (TSXV:MCLD) (‘mCloud) entered into a letter of intent to acquire CSA, Inc. for $4.8 million on December 20, 2017. A definitive agreement regarding the transaction was signed on May 30, 2019. A final binding Stock Purchase Agreement regarding the transaction was signed to acquire CSA, Inc. for $3.5 million on December 16, 2019. Under the terms of the transaction, $2.4 million will be paid in shares and up to $2.4 million in cash including certain performance based payments. As per the Final Stock Purchase Agreement signed on December 16, 2019, $0.5 million will be paid in cash and $1.25 million in common shares. The consideration also includes additional cash payment of $1.25 million and common shares worth $0.5 million based of certain earnout conditions. The cash components of the transaction will be funded via the exercise of mCloud's warrants which commenced in July 2018. On June 24, 2019, mCloud closed the first tranche of its private placement offering of convertible unsecured subordinated debentures for gross proceeds of CAD 17.3 million ($13.11 million). Proceeds from the debenture offering will be used, among other things, to finance the acquisition of CSA. CSA shareholders will end up owning roughly 16% of mCloud shares, post-closing. For the year ended December 2017, CSA had revenues of $1.6 million and EBITDA of $0.13 million. The transaction is subject to approval by TSX Venture Exchange, finalization of due diligence and the execution of a definitive agreement. As of May 30, 2019, Universal mCloud expects to have signed definitive agreements for the acquisitions of CSA by July 2019. Transaction is expected to close in the first quarter of 2018. As of August 23, 2018, the transaction is expected to close before the year ended 2018. As of March 28, 2019, the transaction is expected to close during the second quarter of the 2019 fiscal year. As on May 30, 2019, the transaction is expected to close by July 2019. As of December 16, 2019, the transaction is expected to close before the end of January 2020.