CISO Global a leading provider of AI-powered cybersecurity software and compliance services, announced it is well-positioned to accelerate sales growth and pursue strategic opportunities following significant steps to strengthen its balance sheet.
The Company recently exchanged the last remaining investor debt into Preferred A shares, with no associated warrants. This transaction eliminated more than $9 million in debt, moving it to equity now held by two long-term supporters of CISO Global.
Earlier this week, CISO Global announced a financing agreement with B. Riley that provides up to $15 million in potential growth capital through the sale of convertible Preferred B shares, also with no associated warrants. The Company retains full discretion over whether to issue these shares, and intends to do so only when the growth opportunity merits the investment.
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“After a lot of hard work by our entire CISO Global team, I am pleased to report that our balance sheet is now strong,” said David Jemmett, CEO of CISO Global. “The agreement with B. Riley underscores their confidence in our business and provides flexible access to growth capital while minimizing shareholder dilution. We are well positioned to take advantage of strategic growth opportunities that maximize shareholder value.”
CISO Global is focused on scaling its cybersecurity software and services portfolio. The Company is actively marketing its proprietary software solutions—valued at more than $50 million when pre-revenue—to its base of over 600 services clients. In addition, CISO Global has forged significant insurance partnerships to integrate its security offerings within financial assurance solutions.
“We continue to see a strong sales pipeline from business owners seeking to reduce their cybersecurity risk through innovative financial-backed models,” said Kyle Young, COO of CISO Global. “By aligning with partners such as CAGI, we can deliver our software and services in ways that align with how business owners prefer to buy them.”
“This is an exciting time for CISO Global and our shareholders,” added Jemmett. “With a strong balance sheet, access to flexible growth capital, and a differentiated market offering, we are well positioned to execute on our strategic vision.”
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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