Cyren (CYRN) Announces $13.8 Million Registered Direct Offering of Ordinary Shares
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Cyren (NASDAQ: CYRN), a provider of email security and threat intelligence solutions, today announced that it has entered into securities purchase agreements with several institutional investors for the purchase and sale, in a registered direct offering, of 12,000,000 of its ordinary shares at a purchase price of $1.15 per share for gross proceeds of $13.8 million. The offering is expected to close on or about February 16, 2021, subject to satisfaction of customary closing conditions.
Cyren intends to use net proceeds from the registered direct offering for working capital and general corporate purposes.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
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