Cerberus Cyber Sentinel Raises $5M Via Private Debt Offering, Discloses Preliminary Q4 Results - CISO Global (NASDAQ:CISO)

On March 20, Cerberus Cyber Sentinel Corp CISO disclosed certain preliminary estimated financial information as of and for the quarter and fiscal year ending December 31, 2022.
CISO expects Q4 FY22 revenue of $14.7 million (consensus $14.2 million), up by 150% year-on-year.
The company expects Q4 operating loss to improve by 71% Y/Y to $(9.4) million.
CISO expects FY22 revenue of $46.5 million (consensus $50 million), up by 207% Y/Y.
It expects FY22 operating loss improvement by 17% Y/Y to $(33.2) million.
On March 20, CISO agreed to raise $5 million via private placement of a 10% Unsecured Convertible Note.
The note, together with accrued and unpaid interest thereon, is due on March 20, 2025.
It will bear interest at a rate of 10% per annum, payable monthly.
CISO proposes using the offering proceeds and its existing cash resources to repay the $5,000,000 4% promissory note issued and sold to Bell Bank in June 2022.
Price Action: CISO shares traded higher by 78.30% at $0.51 on the last check Tuesday.