CISO Global, Inc. (Cerberus Cyber Sentinel Corporation) 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on January 20, 2022, reporting events occurring on January 13, 2022, and January 19, 2022. The registrant, Cerberus Cyber Sentinel Corporation (trading as CISO), is an emerging growth company incorporated in Delaware. The filing details the completion of a public offering of common stock.
Key Financial Metrics and Transaction Details
The filing does not provide standard financial metrics such as revenue, profit, cash flow, margins, or debt levels. The primary financial data relates to the capital raise:
- Offering Size: 2,000,000 shares of Common Stock.
- Offering Price: $5.00 per share.
- Over-Allotment: The underwriter exercised an option to purchase an additional 60,000 shares on January 19, 2022.
- Total Shares Issued: 2,060,000 shares.
- Gross Proceeds: Approximately $10.3 million (2,060,000 shares x $5.00), subject to underwriting commissions.
Material Changes
The material change reported is the entry into a definitive underwriting agreement with Boustead Securities LLC and the subsequent completion of the public offering. This represents a significant increase in the company's equity capital compared to the prior period.
Guidance, Outlook, and Risks
The filing does not contain specific forward-looking guidance, management commentary on future operations, or a discussion of risks beyond the standard context of a public offering. The offering was conducted pursuant to a registration statement on Form S-1 (No. 333-261645).
Key Facts for Investor Verification
- Verify the final net proceeds after deducting underwriting commissions and offering expenses.
- Confirm the total number of shares outstanding post-offering to assess dilution.
- Review the full Form S-1 (No. 333-261645) for detailed use of proceeds and risk factors.
- Check subsequent filings for the actual cash balance impact of the offering.