BankruptTechnology
What Happened to American Virtual Cloud Technologies?
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Current Price
$0
Peak Price
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Trust Size
$23M
Summary
American Virtual Cloud Technologies was a cloud communications and cybersecurity company formed through a SPAC merger. The company acquired Kandy Communications to offer UCaaS solutions. AVCT filed for Chapter 11 bankruptcy in January 2023.
What Happened
Pensare Acquisition Corp merged with what became AVCT in 2020. The company acquired Kandy Communications from Ribbon Communications to build a cloud communications platform but struggled to generate revenue. AVCT filed for Chapter 11 in January 2023 and its securities were deregistered by May 2023.
Timeline
2017-07-24
S-1 Registration Filed
2022-02-14
Merger Proxy Filed (DEFM14A)
2023-05-30
Last SEC Filing
Risk Indicators
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