SideChannel completes tender offer for 2021 warrants, exchanges 43.5M warrants for shares and new warrants

SideChannel, Inc.

76 investors tendered 43.5M 2021 warrants (78.4% of total 55.5M warrants) in exchange for ~7.3M common shares and 17.4M new warrants.
New warrants have $0.18 exercise price, expire Dec 31, 2028, and auto-convert if bid exceeds $0.36 for 30 consecutive days.
Common shares issued represent approximately 3.3% of total outstanding shares after the tender offer.
CEO stated original warrants had 'toxic terms' that limited strategic opportunities for the company.

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