CISO Global, a premier provider of AI-powered cybersecurity software and compliance services, announced a significant investor-driven financial restructuring. Over $9 million in convertible debt was exchanged into newly issued Preferred Shares by two strategic long-term investors.
Both principal investors involved in this restructuring have a longstanding commitment to CISO Global, with one serving as a current Director and the other as a member of the Advisory Board. Their decision to convert their notes underscores their confidence in the Company’s strategic shift toward software-focused cybersecurity solutions, particularly given the significant traction CISO Global is experiencing within the insurance channel.
The restructuring introduces newly issued Preferred Shares carrying a 10% coupon and holding seniority in the company’s capital structure without the issuance of warrants. The conversion eradicates all long-term debt, leaving only a modest receivables line of credit with the company’s banking partner, significantly improving the financial profile and simplifying the company’s capital structure.
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CEO David Jemmett remarked, “We are deeply appreciative of the ongoing support and confidence demonstrated by both Hensley and JC Associates. This non-dilutive restructuring significantly enhances our balance sheet and represents a strong vote of confidence in our strategic direction and future growth prospects.”
CISO Global, now with an optimized financial structure driven by investor confidence, is strategically set to expand its market-leading cybersecurity software solutions, enhance market penetration, and drive sustainable growth.
CISO Global, Inc. (NASDAQ: CISO), headquartered in Scottsdale, Arizona, is an industry leader in AI-powered cybersecurity software, managed cybersecurity, and compliance that delivers comprehensive solutions designed to protect organizations from the latest cyber threats. The company protects the most demanding businesses and government organizations against continuing and emerging security threats and ensures their compliance obligations are being met.
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