CISO Global Inc. Announces Pricing of $4.0 Million Registered Direct Offering
17 May 2023 - 1:13PM
via IBN -- CISO Global Inc. (“CISO Global” or the “Company”)
(NASDAQ: CISO), an industry leader as a managed cybersecurity and
compliance provider, based in Scottsdale, Ariz., today
announced it has entered into definitive agreements with
investors for the purchase and sale of 20,000,000 shares of the
Company’s common stock at a purchase price of $0.20 per share in a
registered direct offering. The closing of the offering is expected
to take place on or about May 19, 2023, subject to the satisfaction
of customary closing conditions.
The gross proceeds from the offering are
expected to be approximately $4.0 million, before deducting
placement agent fees and other estimated offering expenses payable
by the Company. The Company intends to use the net proceeds for
general corporate purposes, which may include working capital,
capital expenditures, research and development expenditures,
acquisitions of additional companies or technologies, and
investments. The Company also intends to use the net proceeds to
repay certain indebtedness.
Titan Partners Group, a division of American
Capital Partners, LLC, is acting as sole placement agent for the
offering.
The shares of common stock described above are
being offered by the Company pursuant to a “shelf” registration
statement on Form S-3 (File No. 333-265574) previously filed with
the U.S. Securities and Exchange Commission (the “SEC”) and
declared effective by the SEC on June 27, 2022. The offering is
being made only by means of a prospectus, including a prospectus
supplement, forming a part of the effective registration statement.
A final prospectus supplement relating to the offering will be
filed with the SEC and will be available on the SEC’s website
located at http://www.sec.gov. Electronic copies of the final
prospectus supplement and accompanying prospectus may also be
obtained, when available, from Titan Partners Group, a division of
American Capital Partners, LLC, 7 World Trade Center, 46th Floor,
New York, NY 10007, by telephone at (929) 833-1246 or by email at
info@titanpartnersgrp.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About CISO Global
CISO Global is an industry
leader as a managed cybersecurity and compliance provider. The
Company is rapidly expanding by acquiring world-class
cybersecurity, secured managed services, and compliance companies
with top-tier talent that utilize the latest technology to create
innovative solutions to protect the most demanding businesses and
government organizations against continuing and emerging security
threats and compliance obligations.
Safe Harbor Statement
This press release contains certain statements
that may be deemed to be forward-looking statements under federal
securities laws, and we intend that such forward-looking statements
be subject to the safe-harbor created thereby. These statements are
often, but not always, made through the use of words or phrases
such as “believes,” “expects,” “anticipates,” “intends,”
“estimates,” “predict,” “plan,” “project,” “continuing,” “ongoing,”
“potential,” “opportunity,” “will,” “may,” “look forward,”
“intend,” “guidance,” “future” or similar words or phrases,
including statements relating to the completion of the offering and
the anticipated use of proceeds. These statements reflect our
current views, expectations, and beliefs concerning future events
and are subject to substantial risks, uncertainties, and other
factors that could cause actual results to differ materially from
those reflected by such forward-looking statements. Such factors
include, among others, risks related to our ability to raise
capital; our ability to increase revenue and cash flow and become
profitable; our ability to recruit and retain key talent; our
ability to identify and consummate acquisitions; our ability to
acquire, attract, and retain clients; and other risks detailed from
time to time in the reports filed with the Securities and Exchange
Commission, including the Annual Report on Form 10-K for the fiscal
year ended December 31, 2022 and the Quarterly Report on Form 10-Q
for the quarterly period ended March 31, 2023. You should not place
undue reliance on any forward-looking statements, which speak only
as of the date they are made. Except as required by law, we assume
no obligation and do not intend to update any forward-looking
statements, whether as a result of new information, future
developments, or otherwise.
Corporate Communications: IBN
(InvestorBrandNetwork) Los Angeles, California
www.InvestorBrandNetwork.com 310-299-1717 Office
Editor@InvestorBrandNetwork.com
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