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SteelCloud Shareholders Approve the Sale of Additional Equity

Mon. October 26, 2009; Posted: 09:00 AM
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HERNDON, Va., Oct 26, 2009 /PRNewswire-FirstCall via COMTEX/ -- SCLD | Quote | Chart | News | PowerRating -- --SteelCloud, Inc. (Nasdaq: SCLD), a developer of mobility software solutions primarily for the BlackBerry(R) market, today announced that, at a special meeting of its shareholders held last week, its shareholders approved, among other things, a measure to allow the Company to sell approximately 14.5 million shares and accompanying warrants pursuant to the Company's S-1 Registration Statement currently pending with the Securities and Exchange Commission.

"I am encouraged by this vote of confidence from our shareholders, in our strategy to raise equity and retain our Nasdaq listing," said Brian Hajost, SteelCloud President and CEO. "We can now focus our efforts, in the coming weeks, on having our registration declared effective and selling the shares and accompanying warrants."

A majority of the Company's shares outstanding were voted in a special meeting conducted last week. All four proposals passed by significant affirmative majority votes.

The foregoing description of the registration statement is included only for informational purposes in connection with this press release and does not constitute an offer to sell or a solicitation of an offer to buy any securities of SteelCloud. SteelCloud cannot offer any assurance that any financing will be completed, and, accordingly, cannot be certain that it will receive any amount of proceeds from such financing.

About SteelCloud

SteelCloud is a developer and integrator of mobility computing appliance solutions. The SteelCloud designs, architects and develops specialized appliance solutions for mobile computing technologies including the BlackBerry(R) Enterprise Server technology from Research In Motion. For both commercial and government markets, SteelCloud delivers integrated hardware/software appliance solutions that focus on ease of deployment, policy compliance, and high availability. Over its 20-year history, SteelCloud has won numerous awards for technical excellence and customer satisfaction. The Company can be reached at (703) 674 5500. Additional information is available at www.steelcloud.com. Email: info@steelcloud.com.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: SteelCloud's ability to obtain financing in the short term, risks associated with the integration of business following an acquisition, business conditions and the amount of growth in the computer industry and general economy; competitive factors; ability to attract and retain personnel, including key sales and management personnel; the price of SteelCloud's stock; and the risk factors set forth from time to time in SteelCloud's SEC reports, including but not limited to its Annual Report on Form 10-K and its Quarterly Reports on Forms 10-Q; and Current Reports on Form 8K. SteelCloud takes no obligation to update or correct forward-looking statements

SOURCE SteelCloud, Inc.

http://www.steelcloud.com
For full details for SCLD click here.

    


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