CISO Global reduces S-3 shelf registration to $100 million, ATM to $10 million.

CISO Global has filed a renewal of its S-3 shelf registration, reducing the total shelf from $300 million to $100 million and lowering the At-The-Market offering component from $100 million to $10 million. The filing follows the company's prior commitment to Nasdaq and maintains the shelf registration primarily as a contingency measure. This move aligns with Nasdaq's guidelines and reduces associated filing fees and costs.

CISO Global (NASDAQ: CISO) has filed a renewal of its S-3 shelf registration, significantly reducing the total shelf from $300 million to $100 million. Additionally, the company has lowered its At-The-Market (ATM) offering component from $100 million to approximately $10 million. This move follows the company's previous commitment to Nasdaq during a compliance period when it temporarily fell below required stockholders' equity levels [1].

The filing is primarily a contingency measure to maintain Nasdaq compliance, rather than an immediate plan to utilize the ATM facility. CEO David Jemmett emphasized that the company has no immediate plans to use the ATM facility [1].

This reduction in the S-3 shelf registration aligns with Nasdaq's guidelines and is aimed at reducing associated filing fees and costs. The company's focus remains on its core business of providing AI-powered cybersecurity software and compliance services [1].

Separately, CISO Global has formed a strategic alliance with Financial Independence Group (FIG) through Cyber Assurance Group Incorporated (CAGI) to launch CyberSimpleTM powered by CHECKLIGHT®. This partnership aims to tap into an estimated $2 billion market opportunity within the Professional Employer Organization (PEO) and Financial Management sector [2].

The CyberSimpleTM solution will be integrated into FIG’s advisor portal, offering enhanced cybersecurity services to wealth advisors and their clients, along with a warranty of up to $1.5 million. CISO Global plans to support this launch with instructional videos to facilitate user adoption [2].

The alliance underscores a shared commitment to improving cybersecurity standards for financial services, addressing the increasing threats posed by cybercriminals. Potential Positives of this alliance include opening a $2 billion market opportunity in the PEO and Financial Management sector, expanding reach to thousands of wealth advisors and their clients, and offering a substantial $1.5 million warranty, enhancing the appeal and security of the cybersecurity product [2].

However, there are potential negatives to consider. The press release emphasizes a forward-looking statement regarding the $2 billion market opportunity, which may raise concerns about the feasibility and execution of this expectation. The inclusion of a substantial warranty of up to $1.5 million could imply potential financial liability or risks if claims exceed expectations [2].

References:
[1] https://www.stocktitan.net/news/CISO/ciso-global-files-significantly-reduced-s-3-shelf-wh55jnq0b4ki.html
[2] https://www.nasdaq.com/articles/ciso-global-partners-financial-independence-group-tap-2-billion-market-cybersimpletm?time=1750941803