CISO Global completes balance sheet restructuring

CISO Global (CISO) announced a significant investor-driven financial restructuring. Over $9 million in convertible debt was exchanged into newly issued Preferred Shares by two strategic long-term investors. Both principal investors involved in this restructuring have a longstanding commitment to CISO Global, with one serving as a current Director and the other as a member of the Advisory Board. Their decision to convert their notes underscores their confidence in the Company’s strategic shift toward software-focused cybersecurity solutions, particularly given the significant traction CISO Global is experiencing within the insurance channel. The restructuring introduces newly issued Preferred Shares carrying a 10% coupon and holding seniority in the company’s capital structure without the issuance of warrants. The conversion eradicates all long-term debt, leaving only a modest receivables line of credit with the company’s banking partner, significantly improving the financial profile and simplifying the company’s capital structure.