Trump announces trade deal with EU following months of negotiations
SCOTTSDALE, AZ - CISO Global (NASDAQ:CISO), a cybersecurity company with a current market capitalization of $39.43 million, has filed a renewal of its S-3 shelf registration, reducing the total shelf from $300 million to $100 million, the company announced Friday.
The filing also includes a reduction in the At-The-Market (ATM) offering component from $100 million to approximately $10 million.
The renewal fulfills a commitment previously made to Nasdaq during a period when the company temporarily fell below required stockholders’ equity levels. By renewing the original 2022 registration, CISO Global has reduced associated filing fees and costs while maintaining compliance with Nasdaq guidelines.
"While this S-3 registration renewal ensures we maintain compliance with Nasdaq requirements, we have no intention of utilizing the ATM facility at this time," said David Jemmett, CEO of CISO Global.
The company emphasized that the shelf registration serves primarily as a contingency measure, describing it as a strategic financial move that demonstrates its commitment to maintaining strong financial governance.
CISO Global provides AI-powered cybersecurity software and compliance services to businesses and government organizations. While the company reported negative earnings in the last twelve months, it has shown strong returns over the past month and quarter, according to InvestingPro data. The information in this article is based on a company press release statement.
In other recent news, CISO Global Inc. has announced that it has met all NASDAQ listing standards, maintaining its revenue outlook with projected cybersecurity service revenues of $35 million and software bookings of $5 million. This development underscores the company’s commitment to transparency and corporate governance, as highlighted by CEO David Jemmett. In a strategic move, CISO Global has formed an alliance with Financial Independence Group to distribute its CHECKLIGHT cybersecurity product, opening an estimated $2 billion market opportunity. The alliance will see the integration of the cybersecurity solution into FIG’s advisor portal, which supports thousands of wealth advisors. Furthermore, CISO Global has successfully settled convertible notes with Target Capital 14, LLC and Secure Net Capital, LLC, strengthening its financial position. The company has also extended $7 million in convertible notes with Hensley Beverage Company, reflecting continued confidence from board member Andy McCain. In corporate governance developments, CISO Global’s shareholders have approved the election of directors and ratified Semple, Marchal & Cooper, LLP as independent auditors. Despite facing a potential NASDAQ delisting over share price, the company has been granted a 180-day period to regain compliance, with plans to actively monitor and address its stock’s bid price.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.