CISO - CISO Global down 10% prices $4M direct offering

2023-05-17 03:21:22 ET

• CISO Global ( NASDAQ: CISO ) enters agreement with investors for the purchase and sale of 20M shares at a purchase price of $0.20 per share in a registered direct offering.
• The closing of the offering is expected to take place on or about May 19, 2023.
• Gross proceeds from the offering are expected to be ~$4M.
• Net proceeds to be deloyed for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures, acquisitions of additional companies or technologies, and investments.
• The company also intends to use the net proceeds to repay certain indebtedness.
• The stock price is down 10% on news.

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