HUB Cyber Security Enhances Capital Structure With $11M Notes
HUB Cyber Security Secures Extension on Convertible Notes
HUB Cyber Security Ltd. (NASDAQ: HUBC), a global frontrunner in confidential computing and cybersecurity, has successfully secured a six-month extension for its $11 million aggregate principal amount of convertible notes, alongside accrued interest. This strategic agreement is pivotal, enhancing financial stability and positioning HUB to optimize its capital structure for long-term growth.
Strengthening Shareholder Equity
The recent deal involved amendments to the investor's warrants, allowing the conversion of 13 million ordinary shares from debt to equity. This transition not only reinforces HUB's balance sheet but also demonstrates a commitment to aligning the interests of shareholders and investors. The investor will also gain warrants for 2 million ordinary shares, along with pre-funded warrants for an additional 10 million shares, paving a path for sustained shareholder equity.
CEO Remarks on Financial Discipline
Noah Hershcoviz, CEO of HUB Cyber Security, expressed confidence in this extension, saying, "This extension reflects our ongoing commitment to financial discipline and asset optimization. By reinforcing our capital structure, we are well-positioned to accelerate our market expansion, drive cybersecurity innovation, and create lasting value for our shareholders." His statements reflect HUB's commitment to a sustainable growth trajectory.
Operational Flexibility for Future Success
This financial maneuver represents a significant step in HUB Cyber Security’s strategy to bolster operational flexibility. With an eye on market opportunities, the extended timeline for the convertible notes allows HUB to strategize further investments in technology and market expansion.
About HUB Cyber Security Ltd.
Founded in 2017 by veterans of the Israeli Defense Forces' elite intelligence units, HUB Cyber Security specializes in advanced cybersecurity solutions. The company focuses on protecting sensitive commercial and government data through encrypted computing technologies designed to thwart hardware-level intrusions, as well as innovative data protection strategies. Operating in more than 30 countries, HUB provides a diverse array of cutting-edge cybersecurity appliances and services to its global client base.
Commitment to Cybersecurity Excellence
HUB is at the forefront of cybersecurity innovation, addressing the rapidly evolving needs of businesses and organizations. The company's advanced solutions not only enhance the security of sensitive data but also play a crucial role in maintaining operational continuity in a digital-first landscape.
Looking Ahead
As HUB Cyber Security moves forward, its strategies focusing on innovation and robust financial management are expected to solidify its market position further. By enhancing its capital resources and shareholder equity, HUB aims to continue being a leader in the cybersecurity domain, poised to tackle modern challenges head-on.
Investor Relations Contact
For more information, please reach out to: Lytham Partners
Ben Shamsian
646-829-9701
shamsian@lythampartners.com
Frequently Asked Questions
What is the significance of the $11 million convertible notes extension?
The extension enhances HUB Cyber Security's financial stability and allows for better capital structure optimization, supporting long-term growth.
How does the conversion of warrants to equity benefit HUB?
This conversion strengthens the company's balance sheet and aligns shareholder and investor interests, fostering a healthier financial environment.
What are HUB’s core competencies in cybersecurity?
HUB specializes in advanced cybersecurity solutions that protect sensitive information through encrypted computing technologies and innovative data theft prevention methods.
How does HUB plan to use the funds from the convertible notes?
Funds will be utilized for market expansion, technological advancements, and strengthening operational capabilities.
Who can I contact for more information about HUB's investor relations?
You can reach out to Ben Shamsian at Lytham Partners via 646-829-9701 or shamsian@lythampartners.com.
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