CISO Global Announces $15 Million Convertible Preferred Equity Private Placement to Fund Expansion Initiatives
CISO Global Inc. $(CISO)$, a leading provider of AI-powered cybersecurity software and compliance services, has announced a private financing arrangement with a fund managed by B. Riley Securities Holdings, Inc. Under this agreement, CISO Global has the right, but not the obligation, to sell up to $15 million of a newly created series of convertible preferred stock to B. Riley. The preferred stock, which has a stated value and purchase price of $1,000 per share, bears no preferred return or dividends. The company plans to use the proceeds to strengthen its balance sheet, provide additional liquidity, and fund expansion initiatives. B. Riley Securities acted as sole placement agent for the transaction, with legal counsel provided by Greenberg Traurig, LLP for CISO Global and Lowenstein Sandler LLP for B. Riley.
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