Cycurion, Inc. entered into a warrant inducement agreement with an existing institutional investor to raise approximately $4.5 million in gross proceeds. To facilitate the transaction, the company agreed to reduce the exercise price on existing warrants and issue new, unregistered warrants as consideration for the immediate cash exercise.
Key Details
- Gross Proceeds: The company expects to receive approximately $4.5 million before fees and expenses.
- Inducement Terms: The investor agreed to a cash exercise of warrants for 3,341,439 shares at a reduced price of $1.35 per share (down from $3.62). As consideration, Cycurion will issue new, unregistered warrants to purchase 5,012,159 shares.
- New Warrant Terms: The new warrants have an exercise price of $1.65 per share, are exercisable upon receiving shareholder approval, and will expire five years after such approval is obtained.
- Timeline: The agreement was dated July 30, 2026, and the transaction closed on August 3, 2026.