Investors have bought $2.8 million US dollars worth in equity of Cloud 9 in recent weeks, and Cloud9 have been looking to raise $3 million in total from an investment round, according to a Security and Exchange Commission filing from November 23.
Another report also found that the filing by Cloud9 is a request for the SEC to exempt them from having to submit detailed paperwork about the investment round.
Who knows what this could be? Some speculate that it could be about the upcoming Overwatch league, where teams bid for permanent membership, but without solid details there's no way of knowing for sure.
What do you think is the reason?