Western Acquisition Ventures’ Cycurion entered a warrant inducement deal for immediate exercise of 3,341,439 warrants at $1.35 per share.
Gross proceeds are expected at about $4.5 million; closing is targeted for about Aug. 3, subject to customary conditions.
The investor will receive 5,012,159 new unregistered warrants at $1.65 per share, exercisable upon shareholder approval and expiring five years after approval.
Cycurion plans to file an SEC registration statement covering resale of the shares issuable upon exercise of the new warrants.
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