An industry leader as a managed cybersecurity and compliance provider, based in Scottsdale, Ariz., CISO Global Inc. (CISO), has 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 US$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 US$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 US 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.
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.
