On September 29, 2025, CISO Global announced a private financing arrangement with B. Riley Securities that creates a convertible preferred equity facility allowing the company to raise up to $15 million in preferred stock. The facility has an 18‑month term, an initial draw of $2.3 million and weekly draws of up to $500,000, and the company has no obligation to use the funds.
The preferred stock is priced at $1,000 per share with a 4% original issue discount. Conversion terms set the initial draw at 105% of the lowest daily VWAP over the five trading days prior to conversion, and subsequent draws at 95% of the lowest daily VWAP, with a $0.40 floor. The facility includes a 9.99% beneficial ownership cap and a 19.99% blocker provision to comply with NASDAQ rules.
CISO Global plans to use the proceeds to fund expansion initiatives, particularly scaling its cybersecurity software business in the insurance channel through its partnership with CAGI. The facility follows a prior debt‑to‑preferred equity exchange and is intended to strengthen the balance sheet and provide liquidity for growth.
CEO David Jemmett said the investment "represents an important step forward for CISO Global and enables us to accelerate the growth of our software business and further execute on our strategic vision." CFO Deb Smith added that the facility "has strengthened our balance sheet and positions us to execute our plan from a position of financial strength."
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