HUB Cyber Security (NASDAQ: HUBC) (“HUB Security”), a developer of confidential computing cybersecurity solutions and services, today announced the successful restructuring of $8 million of its debt. The debt was due this month. The company also stated that it has secured an additional $2 million in debt financing. Additionally, key shareholders have exercised warrants at an exercise price of $0.90 per share, resulting in an additional $5 million in capital. The company expects these financing transactions to help it further enhance its product offerings, advance its Secure Data Fabric (“SDF”) roadmap, and drive forward growth in the cybersecurity space. “We are thrilled to have successfully completed these financial initiatives,” commented Noah Hershcovíz, CEO of Hub Security. “The refinancing of our debt, along with the additional debt financing and capital raised through the exercise of warrants, testifies to our investors’ confidence in our vision and strategic direction. Our strengthened financial position allows us to continue to fulfill our commitment to delivering state-of-the-art solutions to our clients.”
To view the full press release, visit https://ibn.fm/8poRg
About HUB Security Ltd.
HUB Cyber Security (“HUB Security”) was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The company specializes in unique cybersecurity solutions protecting sensitive commercial and government information. The company debuted an advanced encrypted computing solution to prevent hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB Security operates in over 30 countries and provides innovative cybersecurity computing appliances as well as a wide range of cybersecurity services worldwide. For further information or inquiries, contact info@hubsecurity.com.
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