High Wire Networks sells tech services assets for $11.2M to become pure-play cybersecurity firm

HIGH WIRE NETWORKS, INC.

Sold technology enablement services business to ServicePoint (INNO4 LLC) for $11.2M all cash.
Proceeds to reduce debt by ~$5M, including $1.1M in convertible debentures and $3.2M in notes payable.
Board approved holding for sale of Secure Voice Corp; tentative sales agreement expected to close before end of Q3.
Overwatch TCV reached record $10.4M in Q1 2024, up 104% YoY; recurring revenue annualized >$5M, up >25% from 2023.
Expects to reach breakeven in second half of 2024; new global OEM partner signed for Firewall as a Service.

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