Cerberus Sentinel Announces Termination of Public Offering of Common Stock
Cerberus Cyber Sentinel Corporation (NASDAQ: CISO) announced the termination of its underwritten public offering of common stock originally proposed on February 13, 2023. The decision was made after management assessed that current market conditions weren't favorable for securing optimal terms for shareholders. Consequently, no shares will be sold under this offering. The offering was to be made under an effective shelf registration statement on Form S-3, established on June 27, 2022. The company remains focused on its role as a managed cybersecurity and compliance provider, aiming for continued growth through acquisitions and innovative solutions.
- The company remains committed to its growth strategy through acquisitions in the cybersecurity sector.
- Termination of the public offering could indicate potential challenges in securing funding under current market conditions.
- The decision not to proceed with the offering may raise concerns about the company's ability to raise capital when needed.
Scottsdale, Ariz., Feb. 16, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Cerberus Cyber Sentinel Corporation (“Cerberus Sentinel” or the “Company”) (NASDAQ: CISO), an industry leader as a managed cybersecurity and compliance provider, based in Scottsdale, Ariz., today announced that it has terminated the underwritten public offering of its common stock previously announced on Feb. 13, 2023. The termination results from an assessment by the Company’s management that current market conditions are not conducive for this offering on terms that would be in the best interests of the Company’s stockholders. As a result of such termination, no shares of common stock will be sold pursuant to the offering.
The offering was being made pursuant to an effective shelf registration statement on Form S-3 declared effective by the Securities and Exchange Commission on June 27, 2022. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Cerberus Sentinel
Cerberus Sentinel is an industry leader as a managed cybersecurity and compliance provider. The Company is rapidly expanding by acquiring world-class cybersecurity, secured managed services, and compliance companies with top-tier talent that utilize the latest technology to create innovative solutions to protect the most demanding businesses and government organizations against continuing and emerging security threats and compliance obligations.
Safe Harbor Statement
This press release contains certain statements that may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe-harbor created thereby. These statements are often, but not always, made through the use of words or phrases such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “predict,” “plan,” “project,” “continuing,” “ongoing,” “potential,” “opportunity,” “will,” “may,” “look forward,” “intend,” “guidance,” “future” or similar words or phrases. These statements reflect our current views, expectations, and beliefs concerning future events and are subject to substantial risks, uncertainties, and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such risks and uncertainties include whether or not the Company will be able to raise capital through the sale of shares of common stock or consummate the offering, the final terms of the offering, the satisfaction of customary closing conditions, prevailing market conditions, the anticipated use of the proceeds of the offering which could change as a result of market conditions or for other reasons, and the impact of general economic, industry or political conditions in the United States or internationally, as well as other risks detailed from time to time in the reports filed with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and the preliminary prospectus supplement and the accompanying prospectus related to the proposed public offering to be filed with the SEC. You should not place undue reliance on any forward-looking statements, which speak only as of the date they are made. Except as required by law, we assume no obligation and do not intend to update any forward-looking statements, whether as a result of new information, future developments, or otherwise.
Company Contact:
Neil Stinchcombe, CMO
Cerberus Sentinel
480-500-7294
Neil.Stinchcombe@cerberussentinel.com
Public Relations Contact:
Cathy Morley Foster
Eskenzi PR
925-708-7893
cathy@eskenzipr.com
Corporate Communications:
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310-299-1717 Office
Editor@InvestorBrandNetwork.com
FAQ
Why did Cerberus Cyber Sentinel terminate its public offering on February 16, 2023?
Was any stock sold from the terminated public offering by Cerberus Cyber Sentinel?
What type of offering was Cerberus Cyber Sentinel planning before termination?
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