Welcome to our dedicated page for Hub Cyber Security Israel news (Ticker: HUBC), a resource for investors and traders seeking the latest updates and insights on Hub Cyber Security Israel stock.
Hub Cyber Security Ltd. (Nasdaq: HUBC) is active in confidential computing, secured data fabric, and cybersecurity for regulated and institutional environments. The HUBC news page on Stock Titan aggregates company announcements, sponsored coverage, and regulatory updates so readers can follow how HUB’s technology, contracts, governance, and capital structure evolve over time.
Recent news highlights include the company’s decision to implement a 1-for-15 reverse share split of its ordinary shares, intended to support compliance with Nasdaq’s minimum bid price requirement. HUB has also reported governance and board updates, including the appointment of directors with backgrounds in banking, payments, national security, and capital markets, as well as the appointment of a new Chief Financial Officer to lead its global finance organization.
Operationally, HUB’s news flow features government and institutional contracts, such as a disclosed engagement with the Israeli Ministry of Interior executed through its Professional Services division, and an expanded relationship with a major European financial institution for application security testing and code review. The company has also communicated a multi-year deal with a major aerospace and defense manufacturer for a perpetual software license and support, and outlined its strategic mission to build trust infrastructure for identity, secure data, and regulated AI.
In addition, HUB publishes updates on financing arrangements, warrant term changes, insider share purchase plans, and the resolution of legacy litigation. By monitoring HUBC news, investors and observers can track developments in confidential computing products, secured data fabric deployments, regulated AI initiatives, institutional contracts, and capital markets actions. Bookmark this page to review the latest HUBC press releases, sponsored analyses, and SEC-linked disclosures in one place.
HUB Cyber Security (NASDAQ: HUBC) has successfully completed a $3.3 million private placement from non-U.S. investors. The investment is in the form of convertible notes with a conversion price of $0.70 per share, accompanied by warrants with an exercise price of $1.00 per share. Simultaneously, HUB Security is in discussions to extend the maturity date of a $4.0 million principal note originally due in August 2024. CEO Noah Hershcoviz stated that this capital will enable the company to advance growth initiatives and expand market presence. HUB Security specializes in developing confidential computing cybersecurity solutions and advanced data fabric.
HUB Security (NASDAQ: HUBC) reported its fiscal 2023 financial results, marking a new chapter with new leadership and strategic moves. Key highlights include:
- Revenue of $42.6 million
- Gross profit of $750K
- Operating loss of $(77.7) million
- Adjusted EBITDA loss of $(12.2) million
- Cash and equivalents of $5.2 million as of December 31, 2023
The company recorded a non-cash impairment charge of $15.3 million due to macroeconomic factors. CEO Noah Hershcoviz highlighted strategic collaborations, debt reduction, and positioning in the secured data fabric market as key developments. HUB Security aims to expedite reporting for H1 2024 and plans a conference call to discuss future plans.
HUB Security (Nasdaq: HUBC) has received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement. The company's stock has closed below $1.00 per share for 30 consecutive business days. HUB has been given an initial 180-calendar day period, ending on January 13, 2025, to regain compliance.
To meet the requirement, HUBC's closing bid price must be at least $1.00 for a minimum of 10 consecutive business days. If compliance is not achieved within this period, HUB may be eligible for an additional 180-day compliance period, subject to meeting certain conditions. Failure to regain compliance could result in delisting from Nasdaq, pending an appeal.
The company's business operations remain unaffected by this notification, and HUB intends to monitor its stock price and consider options to regain compliance.
Hub Security (NASDAQ: HUBC) has announced a successful $15 million refinancing and capital raising initiative. This includes the restructuring of $8 million in existing debt, securing an extra $2 million in new debt, and raising $5 million through key shareholders exercising warrants at $0.90 per share. According to CEO Noah Hershcoviz, these financial steps indicate strong investor confidence and position the company to further enhance its cybersecurity offerings and advance its Secure Data Fabric roadmap.
HUB Cyber Security (NASDAQ: HUBC), a developer of confidential computing cybersecurity solutions, has announced updates on its financial reports and business developments. The company is set to release its annual financial reports in the next few weeks. Recently, HUBC secured two significant deals with governmental entities, showcasing its strategic expansion plans. Additionally, the company anticipates considerable progress in its secure data fabric vertical by the end of the next quarter. These developments underline HUBC's commitment to enhancing its cybersecurity offerings.
HUB Cyber Security (NASDAQ: HUBC) has announced progress in settling a $12 million dispute with Oppenheimer & Co. The dispute involves unpaid fees for services related to a SPAC merger. The company states that negotiations are advancing positively towards a resolution.
HUB Cyber Security (NASDAQ: HUBC) and BlackSwan Technologies will jointly showcase their advanced Secured Data Fabric (SDF) solution at the Money 20/20 event next week. This premier global gathering focuses on payments and financial services innovation. The SDF solution is designed for secure data access and management across various sectors, including healthcare, government, energy, defense, and finance. The goal is to ensure that sensitive information is accessed securely without compromising confidentiality or integrity. Noah Hershcoviz, CEO of HUB Cyber Security, emphasized the advanced protection and control the SDF solution offers over sensitive data.
HUB Cyber Security announced they need more time to complete the audit of their annual financial statements and file their Annual Report for the fiscal year ended December 31, 2023. This delay is due to the recent acquisition of QPoint and efforts to finalize debt restructuring. HUB received a notice from Nasdaq indicating non-compliance with listing rules but this does not affect their current listing or trading. HUB has until July 19, 2024, to submit a compliance plan and may receive an extension until November 11, 2024, if Nasdaq approves. HUB remains optimistic about meeting these requirements.
HUB Cyber Security (Nasdaq: HUBC) has been awarded a $2 million contract by the Israel Airports Authority for supervision services and engineering design consultancy. The contract highlights the company's successful integration of recent acquisitions and strategic growth approach.
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