Cycurion, Inc. Completes Successful $6 Million Fundraising
MCLEAN, Va. — Cycurion, Inc. (“Cycurion” or the “Company”) (NASDAQ: CYCU), a leading name in technology and staffing solutions for the public sector, proudly announces the successful completion of a private placement. This strategic move involved a single institutional investor who purchased 1,657,460 shares of common stock and warrants, amounting to approximately $6 million in gross proceeds.
The securities were sold at an effective combined price of $3.62 per share and warrant, which provide investors the opportunity to purchase additional shares. The warrants can be exercised immediately pending shareholder approval and are set to expire in five years from their initial exercise date. This fundraising effort is not only a testament to the investor's confidence in Cycurion's growth potential but also enhances the Company's financial footing.
Utilization of Proceeds: Strengthening Operations
Cycurion plans to channel the net proceeds from this offering towards working capital and general corporate purposes. This financial injection will empower the Company to bolster its operations, enhance its cybersecurity capabilities, and expand its innovative technologies to better serve its diverse clientele.
Moving ahead, the organization is positioned to capitalize on its comprehensive portfolio of IT cybersecurity solutions and artificial intelligence tools. With an ever-increasing demand for cybersecurity in various sectors, Cycurion is committed to driving technological advancement and operational resilience for its clients.
A Collaborative Effort Behind the Scenes
To facilitate this private placement, A.G.P./Alliance Global Partners played a pivotal role as the sole placement agent. Their expertise in navigating the complexities of private placements was crucial to the successful conclusion of this offering. Additionally, legal guidance was provided by Seward & Kissel LLP for the Company, while Sullivan & Worcester LLP acted for the placement agent, ensuring compliance with all applicable regulations throughout the process.
Overview of Cycurion’s Mission and Vision
Based in McLean, Virginia, Cycurion (NASDAQ: CYCU) stands at the forefront of providing comprehensive IT cybersecurity solutions, enhanced by artificial intelligence. With a commitment to security and innovation, the Company aims to deliver reliable services to its clients globally.
Cycurion specializes in several key areas including cybersecurity, program management, and business continuity, all of which are crucial in today’s digital landscape. The Company leverages its AI-driven ARx platform and a skilled team of experts to empower its clients, ensuring their operations remain secure and resilient against evolving threats.
Through its subsidiaries such as Axxum Technologies LLC, Cloudburst Security LLC, and Cycurion Innovation, Inc., Cycurion caters to a wide range of clients, from governmental bodies to healthcare organizations and corporate sectors dedicated to protecting their digital infrastructures.
Investor Relations: Staying Connected
Cycurion underscores its dedication to transparent communication with its stakeholders. The Company is actively preparing to file a registration statement with the U.S. Securities and Exchange Commission (the “SEC”) to cover the resale of the acquired shares of common stock and the underlying warrants sold in this offering. This move will ensure that the new securities comply with regulatory requirements, allowing investors to trade their shares freely.
For any inquiries, Cycurion encourages its investors and media representatives to reach out via their dedicated channels:
Investor Relations: (888) 341-6680
Email: investors@cycurion.com
Media Relations: (888) 341-6680
Email: media@cycurion.com
Frequently Asked Questions
What is the purpose of the $6 million raised by Cycurion?
The funds will primarily be used for working capital and general corporate purposes to strengthen operations.
Who acted as the placement agent for this private placement?
A.G.P./Alliance Global Partners served as the sole placement agent for the offering.
What are common warrants in relation to this offering?
The common warrants allow investors to purchase additional shares of Cycurion stock at an exercise price of $3.62 each.
Does Cycurion have plans for its securities?
Yes, Cycurion plans to file a registration statement with the SEC covering the resale of the common stock shares and warrants sold in this offering.
What sectors does Cycurion serve?
Cycurion provides its cybersecurity services to governmental, healthcare, and corporate clients focused on securing their digital environments.
