Cyren Announces $10.2 Million Private Placement Priced at a Premium to Market
CYREN Ltd. - Ordinary Shares (CYRN)
Last cyren ltd. - ordinary shares earnings: 3/25 06:00 am
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US:NASDAQ Investor Relations:
ir.cyren.com/investor-relations
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Source: Accesswire
MCLEAN, VA / ACCESSWIRE / September 15, 2021 / Cyren (NASDAQ:CYRN), today announced that it has entered into securities purchase agreements with certain institutional and other accredited investors to raise approximately $10.2 million through the issuance of 14,152,779 of its ordinary shares (or ordinary share equivalents) and warrants to purchase up to 14,152,779 ordinary shares, at a purchase price of $0.72 per share (or ordinary share equivalent) and associated warrant, in a private placement priced "at-the-market" under Nasdaq Rules. The warrants will have a term of three and one-half years, be exercisable immediately following the issuance date and have an exercise price of $0.60 per ordinary share.H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.Cyren intends to use the net proceeds from the private placement for general corporate purposes, including working capital needs and the repayment of indebtedness. The closing of the private placement is
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