TEL AVIV, ISRAEL, April 5, 2024 (GLOBE NEWSWIRE) — Via IBN – HUB Cyber Security Ltd., a developer of confidential computing cybersecurity solutions and services (“HUB” or the “Company”) Nasdaq: HUBC) is pleased to announce that it has successfully raised $8 million in straight debt arrangement. This strategic financing is part of the company’s continued efforts to strengthen its financial position and invest strategically for the future.
We have chosen a straight debt structure with the goal of accelerating HUB’s growth, strengthening our working capital and seamlessly fulfilling our obligations to our creditors. This financing mechanism was chosen with great care to ensure that we can meet our financial responsibilities while vigorously pursuing our expansion plans.
Noah Hershkovis, CEO of HUB, said: This enables our strategic initiatives, meets our creditor obligations and reflects our commitment to transparency and accountability. Additionally, we are nearing completion of the audit process, which is an important step towards timely submission of year-end financial reports and further affirms our commitment to our stakeholders. ”
For further information or inquiries, please contact us below. info@hubsecurity.com
About HUB Security Co., Ltd.
HUB Cyber Security Ltd (“HUB”) was founded in 2017 by veterans of the Israel Defense Forces’ elite intelligence units. We specialize in unique cyber security solutions that protect sensitive commercial and government information. The company debuted advanced cryptographic computing solutions to prevent hostile intrusions at the hardware level, while simultaneously introducing a new set of data theft prevention solutions. HUB Security operates in more than 30 countries and offers innovative services.
Cybersecurity computing appliances and wide range of cybersecurity services worldwide.
Forward-looking statements
This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the anticipated benefits, financial condition and results of operations of the transaction; Contains statements regarding earnings forecasts and prospects. of the combined company. Forward-looking statements generally include statements such as “plans,” “believes,” “expects,” “anticipates,” “intends,” “outlooks,” “estimates,” “futures,” “anticipates,” “plans,” “forecasts,” ”, “plan”, and other words. “continue”, “may”, “might”, “might”, “could”, “could”, “predict”, “seem”, “ “should”, “will”, “would” and other similar words and expressions, provided that the absence of these words does not mean that the statement is not forward-looking. Not.
Forward-looking statements are based on HUB Security’s management’s current expectations, as applicable, and are inherently subject to uncertainties, changes in circumstances, and the potential effects thereof. , which speak only as of the date of such statements. There can be no guarantee that future developments will be as anticipated. These forward-looking statements are subject to a number of risks, uncertainties or other risks that could cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. Contains assumptions. These risks and uncertainties include, but are not limited to, those discussed and identified in HUB Securities’ public filings with the SEC and: (i) significant uncertainties regarding the adequacy and ability of HUB Securities’ liquidity and capital resources; Repay the obligation when it is due. (ii) The war between Israel and Hamas will begin in October 2023 and hostilities could spread to other fronts, which could negatively impact Israel’s economy and HUB Security’s business. there is. (iii) expectations regarding HUB Security’s strategy and future financial performance (future business plans or objectives, future performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flow and use of cash), capital expenditures, and HUB Security’s ability to invest in growth initiatives and pursue acquisition opportunities; (iv) the outcome of any legal or regulatory proceeding against HUB Security related to our previously announced internal investigations or otherwise; (v) the ability to modify and meet the continued listing criteria of the stock exchanges; (vi) the risk that the completion of the business combination in February 2023 will disrupt HUB Security’s operations and future plans; (vii) competition, HUB Security’s ability to grow and manage profitably, maintain relationships with customers and suppliers, and retain its management team and key employees; (viii) limited liquidity and trading of HUB Security’s securities; (ix) geopolitical risks, including military actions and related sanctions;
and changes in applicable laws or regulations. (x) HUB Security may be adversely affected by other economic, business and/or competitive factors; (xi) as described in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in HUB Securities’ Annual Report on Form 20-F filed on August 15, 2023; and other risks and uncertainties.
If one or more of these risks or uncertainties materialize, or if any of the assumptions made by HUB Security’s management prove incorrect, actual results may differ from those with respect to these forward-looking statements. They may differ in material respects from those expressed or implied in the description.
All subsequent written and oral forward-looking statements with respect to the business combination or other matters discussed in this press release are attributable to HUB Security or its agents and are included in the press release in their entirety. as expressly provided for by any notice contained or referred to. release. Except to the extent required by applicable law or regulation, HUB Security does not use these forward-looking statements to reflect the occurrence of unanticipated events or to reflect events or circumstances after the date of this press release. We do not undertake any obligation to update this information.
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