secwatch.observer — SEC 8-K summary
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Issuer:     CISO Global, Inc. (CISO)
CIK:        0001777319
Form:       8-K
Filed at:   2024-12-16T23:59:59+00:00
Accession:  0001493152-24-050128
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CISO Global receives $6.5M convertible note investment from Target Capital to reduce debt
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- Strategic investment of $6.5M in convertible notes led by Target Capital; total offering up to $8.125M including warrants.
- Proceeds primarily to repay short-term debt and improve balance sheet to accelerate path to profitability.
- Warrants issued: 5.5M and 1M shares at $1.00 exercise price, 5-year term; placement agent warrants at $1.15.
- Board majority change anticipated; current directors to resign and new members added, subject to SEC Rule 14f-1.
- Placement agent fees: 7% of gross proceeds plus warrants; RBW Capital and Dominari Securities acted as agents.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1777319/000149315224050128/0001493152-24-050128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1777319/000149315224050128/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-050128

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