Crossword Cybersecurity Plc announced that it has entered into agreement to issue 5 year 12% unsecured convertible loan notes for the gross proceeds of £230,000 on July 27, 2023. On repayment of the loans in cash, each lender will be issued warrants valid for three months to subscribe for Ordinary Shares representing 10%. of the value of the Loan at the Conversion Price.

The transaction has been approved by the shareholders of the company. The company has convertible loan notes of £4,120,000, with expiry dates from June 2025 to October 2028.