CloudTag down after fundraise announcement

(ShareCast News) - CloudTag raised a further £228,000 this week, through the issue of 7.6 million new ordinary shares, it announced on Wednesday.The AIM-traded health and fitness monitoring firm said the price represented a 9% premium over the mid-market closing price on 15 March.Its board expected admission to trading would occur on or around 22 March, and the new shares would rank pari passu with existing ordinary shares.Following the issue, the total number of ordinary shares in CloudTag was 253,778,729. At 1635 GMT, shares in CloudTag were down 2.73% to 2.68p.