CISO Global exchanges over $9M in convertible notes for Series A Preferred, eliminates long-term debt

CISO Global, Inc.

• Exchanged ~$9.3M aggregate principal and interest on convertible notes from Hensley (director) and J C Associates (advisory board) for 9,297,894 Series A Preferred shares.
• Preferred shares pay a 10% cumulative dividend, rank senior to common, and are convertible at company's option; no warrants issued.
• All long-term debt eliminated; only a modest receivables line of credit remains with banking partner.
• Holders relinquished all rights under cancelled notes; transaction exempt under Section 3(a)(9) and Rule 506(b).