secwatch.observer — SEC 8-K summary
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Issuer:     CISO Global, Inc. (CISO)
CIK:        0001777319
Form:       8-K
Filed at:   2025-09-29T23:59:59+00:00
Accession:  0001493152-25-015890
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 3.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CISO Global enters $15M convertible preferred equity facility with B. Riley for expansion
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- Facility up to $15M over 18 months; initial draw $2.3M, weekly draws up to $500k, no obligation to use.
- Conversion price: 105% of 5-day VWAP for first $500k, 95% for subsequent; floor $0.40.
- Proceeds to fund expansion, especially scaling cybersecurity software in insurance channel via CAGI.
- No preferred dividends or return; subject to 9.99% beneficial ownership cap and 19.99% Nasdaq blocker.
- B. Riley receives 3.5% cash fee; company can terminate with $1M liquidated damages.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1777319/000149315225015890/0001493152-25-015890-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1777319/000149315225015890/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-015890

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer