Scottsdale, AZ — September 29, 2025 — Leads & Copy — CISO Global (NASDAQ: CISO) has entered into a private financing arrangement with a fund managed by B. Riley Securities Holdings, Inc. (“B. Riley”), allowing CISO the option to sell up to $15 million of a newly created series of convertible preferred stock to B. Riley.
The equity facility has a term of 18 months, during which CISO can draw up to $15 million at its discretion, with an initial increment of $2.3 million and subsequent weekly draws up to $500,000, contingent on meeting certain conditions. CISO maintains full control over the timing and amount of any sales to B. Riley, with no obligation to use the $15 million available.
The preferred stock is convertible into shares of CISO’s common stock after a registration statement is declared effective by the U.S. Securities and Exchange Commission, at a conversion price based on the daily VWAP over the five trading days prior to the conversion date, subject to a floor of $0.40 and other adjustments.
CISO intends to use the proceeds from the Facility to fund expansion initiatives, particularly the scaling of its cybersecurity software business in the insurance channel through its strategic relationship with CAGI.
According to David Jemmett, CEO of CISO Global, the investment will enable the company to accelerate the growth of its software business and further execute its strategic vision. Deb Smith, CFO of CISO Global, added that the facility strengthens the company’s balance sheet.
B. Riley Securities acted as Sole Placement Agent to the Company. Greenberg Traurig, LLP acted as legal counsel to the Company. Lowenstein Sandler LLP acted as legal counsel to B. Riley.
Hilary Meyers
hilary.meyers@ciso.inc
(480) 389-3444
Source: CISO Global, Inc.
