Cybeats Closes Final Tranche of Non-Brokered Offering; Over $2M in Total Proceeds

Cybeats Technologies Inc. (CSE: CYBT, OTCQB: CYBCF), a global leader in software supply chain security, has successfully closed the final tranche of its non-brokered offering. The company raised a total of over $2M in proceeds from this offering, which will be used to fund its operations and growth initiatives.

The non-brokered offering was conducted under the listed issuer financing exemption and involved the sale of a minimum of 18,750,000 units and a maximum of 31,250,000 units at a price of $0.16 per unit. Each unit consists of one common share and one-half of one common share purchase warrant, with each warrant exercisable at a price of $0.20 per share for a period of 24 months from the closing date.

The funds raised from this offering will be used to accelerate Cybeats' growth and improve its competitive positioning. The company plans to use the proceeds to expand its leadership and commercial/sales teams, scale its infrastructure, and invest in business development activities. Additionally, Cybeats is evaluating multiple opportunities to accelerate its growth through direct funding and a potential public spin-out transaction.



Cybeats' latest funding round is the smallest in terms of size compared to its previous rounds. The company raised $1.77M in its latest Post IPO round, which is significantly lower than the $4.61M raised in its previous Post IPO round and the $3M raised in its Seed rounds. However, the lower funding amount in the latest round could indicate that the company is now focusing on growth and profitability rather than expansion.

In terms of valuation, Cybeats' post-IPO rounds have lower post-money valuations compared to its Seed rounds. This suggests that the company's valuation has decreased since its IPO. However, the decrease in valuation could also be attributed to the overall market conditions and the broader economic climate.

In conclusion, Cybeats' successful closure of the final tranche of its non-brokered offering will have a significant impact on the company's financial position and future growth prospects. The funds raised will enable Cybeats to invest in its business, accelerate its growth, and improve its competitive positioning. Despite the lower funding amount and decreased valuation in the latest round, the company remains well-positioned to capitalize on the growing demand for software supply chain security solutions.