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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): December 2, 2021

 

CYREN LTD.

(Exact Name of Registrant as Specified in its Charter)

 

Israel   000-26495   Not applicable
(State or Other Jurisdiction
of Incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

10 Ha-Menofim St., 5th Floor
Herzliya, Israel
  4672561
(Address of Principal Executive Offices)   (Zip Code)

 

011972–9–863–6888

(Registrant’s telephone number, including area code)

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading symbol(s)   Name of exchange on which
registered
Ordinary Shares, par value ILS 0.15 per share   CYRN   Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

 

Item 8.01 Other Events.

 

On December 2, 2021, Cyren Ltd. (the “Company”) paid in full the outstanding principal amount of $10.0 million and accrued but unpaid interest on the unsecured convertible notes (the “Notes”) issued in December 2018. The Notes matured on December 5, 2021 and were paid in accordance with the terms of the Notes.

 

Item 9.01 Financial Statement and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
     

99.1

Press release of Cyren Ltd. dated December 9, 2021
     
104.1   Cover Page Interactive Data File (embedded within the inline XBRL document).

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  CYREN LTD.
Dated: December 9, 2021    
  By: /s/ Kenneth Tarpey
  Name:  Kenneth Tarpey
  Title: Chief Financial Officer

 

 

Exhibit 99.1

 

A PICTURE CONTAINING TEXT, CLIPART

DESCRIPTION AUTOMATICALLY GENERATED

 

Press Release

Cyren Announces Repayment of Convertible Notes

 

Debt Balance reduced by 52%

 

McLean, VA – December 9, 2021 – Today, Cyren Ltd. (NASDAQ:CYRN), a provider of email security and threat intelligence solutions announced that it has paid in full the outstanding principal amount of $10M, along with accrued interest, on unsecured convertible notes issued in December 2018 with a maturity date of December 5, 2021. The debt payment was funded with cash on hand.

 

As a result, Cyren reduced its debt balance by 52%, from approximately $19M to $9M and strengthened its balance sheet.

 

About Cyren

 

More than 1.3 billion users around the world rely on Cyren's cloud security solutions to protect them against cyber-attacks every day. Powered by the world's largest security cloud, Cyren (NASDAQ: CYRN) delivers fast time-to-protection with embedded threat detection, threat intelligence and email security solutions. Learn more at www.cyren.com.

 

This press release contains forward-looking statements, which may be identified by words such as “expect,” “look forward to,” “anticipate” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Cyren’s control, and cannot be predicted or quantified, and are detailed from time to time in reports filed by Cyren with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Cyren does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law.

  

Company Contact

 

Kenneth Tarpey, CFO

Cyren

kenneth.tarpey@cyren.com

+1.703.760.3435