Corporate ActionAug 3, 2026, 05:19 PM
Cycurion Secures $4.5M Gross Proceeds from Warrant Inducement
AI Summary
Cycurion, Inc. entered into a warrant inducement agreement to secure approximately $4.5 million in gross proceeds. An existing holder agreed to exercise 3,341,439 existing warrants at a reduced price of $1.35 per share. In consideration, Cycurion issued new unregistered warrants to purchase up to 5,012,159 shares at an exercise price of $1.65 per share, exercisable upon stockholder approval. The company intends to use the net proceeds for working capital and general corporate purposes.
Key Highlights
- Secured approximately $4.5 million in gross proceeds from warrant exercise.
- Holder exercised 3,341,439 existing warrants for cash.
- Existing warrant exercise price reduced from $3.62 to $1.35 per share.
- Issued new unregistered warrants to purchase up to 5,012,159 shares.
- New warrants have an exercise price of $1.65 per share.
- Company to pay A.G.P./Alliance Global Partners a 6.0% cash fee on gross proceeds.
- Net proceeds will be used for working capital and general corporate purposes.
- New warrants exercisable upon stockholder approval and expire in five years.
Price Impact
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