CISO Global Eliminates $9M Debt, Secures $15M Growth Financing

CISO Global Inc has significantly strengthened its financial position by converting over $9 million of investor debt into equity, specifically Preferred A shares held by two long-term supporters, thereby improving its balance sheet and reducing liabilities. The company has also secured a new financing agreement with B. Riley, providing up to $15 million in growth capital through convertible Preferred B shares without attached warrants, which CISO can issue at its discretion based on growth opportunities. This financial flexibility is intended to support CISO Global's strategic initiatives, including expanding its AI-powered cybersecurity software and services portfolio, which serves over 600 clients and is valued at more than $50 million pre-revenue. CISO is actively leveraging insurance partnerships to integrate its cybersecurity offerings within financial assurance solutions, aiming to capitalize on a strong sales pipeline fueled by demand for innovative, financially-backed cybersecurity risk reduction models. CEO David Jemmett emphasized the company's strengthened balance sheet and the confidence signaled by the B. Riley agreement, highlighting readiness to pursue growth opportunities that enhance shareholder value. COO Kyle Young noted ongoing efforts to align with partners like CAGI to deliver comprehensive cybersecurity services tailored to business owners' needs.