CISO Global Inc. raises $9.30m; offering $9.30m: form D

CISO Global Inc. raises $9.30m; offering $9.30m: form D

CISO Global Inc. (NASDAQ:CISO), a leading provider of cybersecurity solutions, has announced a significant financial restructuring that will inject $9.30 million into the company's coffers. The restructuring involves the conversion of $9.30 million in convertible debt into newly issued Preferred Shares by two strategic long-term investors [2].

The decision to convert debt into equity underscores the investors' confidence in CISO Global's strategic shift towards software-focused cybersecurity solutions, particularly within the insurance channel. The conversion of debt into Preferred Shares, which carry a 10% coupon and seniority in the company's capital structure without the issuance of warrants, simplifies the company's capital structure and significantly enhances its financial profile [2].

This restructuring comes on the heels of CISO Global's anticipated increase in software-related bookings for 2025. The company reported that its anticipated software bookings have been raised to $10.0 million, following the nationwide rollout of its CHECKLIGHT cybersecurity software through Financial Independence Group (FIG) and Cyber Assurance Group Inc. (CAGI) [2].

The partnership with CAGI introduces CHECKLIGHT into an estimated $2.0 billion addressable market for warranty-backed cybersecurity, marking a significant expansion of CISO Global's market reach. The company's strategic alliance with CAGI aims to deliver comprehensive financial and cyber protection solutions to the small and medium-sized business (SMB) market, which has traditionally been underserved [2].

CISO Global's strategic focus on software solutions and its growing market penetration are expected to drive sustainable growth and improve its financial position. The company is also evaluating additional funding strategies, including equity financing and debt issuance, to support its future operations [1].

References:
[1] https://www.tradingview.com/news/tradingview:be919df1785bb:0-ciso-global-inc-sec-10-q-report/
[2] https://finance.yahoo.com/news/ciso-leading-cybersecurity-provider-entering-093700183.html