Cloudastructure, which offers cloud-based video surveillance services, completed its direct listing on the Nasdaq and began trading yesterday, January 30, 2025, according to a press release issued yesterday. It listed under the symbol CSAI.
The Palo Alto, CA-based company's shares opened for trading at $50.00 per share and finished the day at $33.75. Prior to the listing, Cloudastructure most recently offered units under Reg A+ at $12.00 per unit, with each unit containing two shares and one warrant, exercisable at $9.00.
The Registered Stockholders had registered 1.7 million shares of common stock.
Cloudastructure provides cloud-based AI video surveillance and remote guarding. Its solution works by identifying objects (e.g. faces, license plates, animals, guns) in video footage so that property managers can quickly search for those objects. The company currently has contracts in place with five of the top 10 property management companies on the National Multifamily Housing Council's 2024 NMCH 50 list.
There are no underwriters on the deal; instead, Maxim served as financial advisor.
