Business
HUB Security Receives Four Million USD From PIPE Investors at 10USD Per Share
--News Direct--HUB Cyber Security Ltd (Nasdaq: HUBC), a developer of Confidential Computing cybersecurity solutions and services ("HUB" or the "Company"),
About this update from Hub Cyber Security Ltd.
[{"type":"text","content":"--News Direct--HUB Cyber Security Ltd (Nasdaq: HUBC), a developer of Confidential Computing cybersecurity solutions and services (\"HUB\" or the \"Company\"), today announced that it had issued and sold approximately 400,000 shares to two of the original PIPE investors at a price per share of $10 for proceeds of approximately $4 million dollars, in a private placement. The shares were sold pursuant to the original PIPE terms entered into in connection with the Company’s business combination . The remaining PIPE funds are currently being negotiated with investors and the Company remains in discussions with the investors to receive those funds. About HUB Cyber Security Ltd.HUB Cyber Security Ltd (\"HUB\") was established in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israeli Defense Forces. HUB specializes in unique Cyber Security solutions protecting sensitive commercial and government information. HUB debuted an advanced encrypted computing solution aimed at preventing hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB operates in over 30 countries and provides innovative cybersecurity computing appliances as well as a wide range of cybersecurity services worldwide. Forward-Looking StatementsThis press release contains forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995, including statements about the anticipated benefits of the transaction, and the financial condition, results of operations, earnings outlook, and prospects of the combined company. Forward-looking statements are typically identified by words such as \"plan,\" \"believe,\" \"expect,\" \"anticipate,\" \"intend,\" \"outlook,\" \"estimate,\" \"future,\" \"forecast,\" \"project,\" \"continue,\" \"could,\" \"may,\" \"might,\" \"possible,\" \"potential,\" \"predict,\" \"seem,\" \"should,\" \"will,\" \"would\" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.The forward-looking statements are based on the current expectations of the management of HUB, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can...