CISO Global, Inc. (CISO): debt financing — Cerberus Q4 revenue $14.7M, up 150% YoY; operating loss narrows 71%; issues $5M convertible note

CISO Global, Inc.

Q4 2022 revenue $14.7M (+150% YoY); FY22 $46.5M (+207% YoY). Operating loss Q4 $9.4M vs $32.9M loss prior year.
Company issued $5M 10% unsecured convertible note to Hensley & Company, due Mar 2025, convertible at $1.20/share.
Proceeds to repay $5.035M Bell Bank note that defaulted on Mar 14, 2023; interest had increased from 4% to 7%.
Andrew McCain, a director, is President/COO of Hensley (Purchaser) – related party transaction.

item 1.01 item 2.02 item 2.03 item 2.04 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CISO Global, Inc. incurred convertible notes of $5,000,000 with Hensley & Company dba Hensley Beverage Company at 10% per annum maturing March 20, 2025.

Instrument: convertible notes
Principal: $5,000,000
Counterparty: Hensley & Company dba Hensley Beverage Company
Rate: 10% per annum
Maturity: March 20, 2025
Event: incurrence

Exact text from the filing

pursuant to which we issued and sold to the Purchaser a $5,000,000 10 Percent (10%) Unsecured Convertible Note

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CISO Global, Inc. reported a default on loan of $5,035,417 with Bell Bank at 4% to 7% maturing March 14, 2023.

Instrument: loan
Principal: $5,035,417
Counterparty: Bell Bank
Rate: 4% to 7%
Maturity: March 14, 2023
Event: default

Exact text from the filing

in full the $5,000,000 4% promissory note issued and sold to Bell Bank (the “Bell Bank Note”) in June 2022. As of the date of this Current Report on Form 8-K, we owed a total of $5,035,417 under the Bell Bank Note. The foregoing summary of the Note Offering, the Purchase Agreement, and the Note does not purport to be complete and is subject to, and qualified in its

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CISO Global, Inc. reported preliminary financial results for the quarter and fiscal year ended December 31, 2022.

Period: the quarter and fiscal year ended December 31, 2022
Result: preliminary results

Exact text from the filing

On March 20, 2023, we issued a press release, which contained certain preliminary estimated financial information as of and for the quarter and fiscal year ended December 31, 2022.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CISO Global, Inc. entered into Purchase Agreement with Hensley & Company dba Hensley Beverage Company valued at $5,000,000 (effective 2023-03-20).

Action: entry
Agreement: equity purchase
Counterparty: Hensley & Company dba Hensley Beverage Company
Value: $5,000,000
Effective: 2023-03-20

Exact text from the filing

On March 20, 2023, Cerberus Cyber Sentinel Corporation (the "Company," "we," "us," or "our") entered into a Purchase Agreement (the "Purchase Agreement") with Hensley & Company dba Hensley Beverage Company (the "Purchaser"), pursuant to which we issued and sold to the Purchaser a $5,000,000 10 Percent (10%) Unsecured Convertible Note (the "Note") for gross proceeds of $5,000,000

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7 debt financings filed in the last 30 days. Browse all debt financings →

CISO Global, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-008267

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