Cycurion closes $6 million private placement with institutional investor

Cycurion Inc. (NASDAQ: CYCU) completed a private placement with a single institutional investor, raising approximately $6 million in gross proceeds before fees and expenses.

The McLean, Virginia-based technology and staffing solutions provider sold 1,657,460 shares of common stock and warrants to purchase up to 3,314,920 additional shares at an effective combined price of $3.62 per share and warrant. The warrants carry an exercise price of $3.62 per share and expire five years from the initial exercise date.

The warrants will become exercisable immediately following shareholder approval. Cycurion plans to use the net proceeds for working capital and general corporate purposes.

A.G.P./Alliance Global Partners served as the sole placement agent for the offering. The securities were sold under an exemption from registration requirements under Section 4(a)(2) of the Securities Act of 1933 and Regulation D.

Under the securities purchase agreement, Cycurion agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares and underlying warrant shares sold in the offering.

Seward & Kissel LLP provided legal counsel to Cycurion, while Sullivan & Worcester LLP represented the placement agent.

The company provides cybersecurity solutions and artificial intelligence services to government, healthcare, and corporate clients through its subsidiaries Axxum Technologies LLC, Cloudburst Security LLC, and Cycurion Innovation Inc.

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