Data443 lands $1.5m boost and amends debt conditions

Data443 Risk Mitigation

Data443 Risk Mitigation, an industry leader in data security and privacy software solutions, has today announced the completion of a series of transactions that have netted the company an additional $1.5m in growth capital while simultaneously retiring specific outstanding debt obligations.

The newly injected $1.5m came as a direct investment in the company. Alongside this, a notable element of the transactions involved the exchange of an existing note for a new one under enhanced terms and the relinquishing of specific security interests on a portion of the company’s assets. The sole placement agent for this transaction was Dawson James Securities Inc.

At its core, Data443 is a company dedicated to “All Things Data Security”. Offering software and services that ensure the security of data across devices and databases, both locally and in the cloud, Data443 serves over 10,000 customers across 100 countries.

Whether data is at rest or in transit, Data443’s modern approach to data governance and security helps customers identify and protect all sensitive data, regardless of its location, platform or format.

With this newly acquired funding, Data443 plans to increase its operational flexibility, allowing it to close outstanding technology acquisitions and position itself for a planned listing on a major stock exchange. The transactions also support the company’s objectives to reduce its outstanding debt under more favourable terms.

In commenting on the successful conclusion of these transactions, Data443’s CEO and founder Jason Remillard said, “We are pleased with the outcome of our debt refinancing efforts which represents a very productive step in assuring our long-term viability and delivering shareholder value.

“We appreciate the efforts of all parties to complete the transactions at terms that align and benefit all parties. Notwithstanding the persisting market uncertainties, we raised the funds necessary to facilitate and close accretive transactions while retiring debt. Importantly, this debt retirement positively impacts our shareholder equity ratio, a critical factor in meeting the prerequisites for a listing on a premier stock exchange.”

Keep up with all the latest FinTech news here

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.