Item 1.03 Bankruptcy or Receivership.

On February 23, 2023, Cyren Ltd. (the "Company"), petitioned the Tel Aviv District Court for the appointment of a liquidating trustee pursuant to applicable Israeli insolvency law (Case No. 57491-02-23). On February 26, 2023, Adv. Guy Gissin was appointed as interim trustee of the Company (the "Trustee").

Effective as of the appointment of the Trustee, each of the members of the Board of Directors has resigned and each member of the executive management of the Company has been terminated.

The Company cautions that trading in its ordinary shares is highly speculative and poses substantial risks. Trading prices may bear little or no relationship to the actual recovery, if any, by holders of the Company's securities.


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