Articles from HUB Cyber Security Ltd.

This strategic acquisition positions HUB to capitalize on a projected $12.91 billion market by 2032 and deliver advanced security, compliance, and regulatory technologies to banks, fintechs, and governments worldwide.

TEL AVIV, Israel, Jan. 23, 2025 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd. (NASDAQHUBC) (“HUB”; or the “Company”), a leading provider of cybersecurity solutions and advanced data fabric technology, is pleased to announce that the transaction process for the acquisition of BlackSwan Technologies, Inc. (“BlackSwan”) is on track, with the definitive agreement having been signed on January 15, 2025, as previously announced. The final steps towards closing are focused on completing routine regulatory and contractual requirements, and the transaction is expected to close on or about Tuesday, January 28, 2025.

TEL AVIV, Israel, Jan. 21, 2025 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd. (NASDAQHUBC) (“HUB” or the “Company”), a leading provider of cybersecurity solutions and advanced data fabric, announced receipt of a Staff Delisting Determination (the “Staff Determination”) from the Listing Qualifications Department of the Nasdaq Stock Market, LLC (“Nasdaq”). In accordance with the minimum bid price required for continued listing under Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”), the Company was provided until January 13, 2025, to regain compliance with the Minimum Bid Price Requirement, and as of this date the Company has not regained compliance with the requirement. Accordingly, the Staff Determination serves as a basis for delisting of the Company’s securities from The Nasdaq Stock Market.

TEL AVIV, Israel, Jan. 16, 2025 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd. (NASDAQHUBC) (“HUB” or the “Company”), a global leader in advanced cybersecurity and data fabric technology, today announced that it has entered into a definitive agreement to acquire BlackSwan Technologies, Inc. (“BlackSwan”). The transaction is subject to customary closing conditions and is expected to close next week.

TEL AVIV, Israel, Jan. 02, 2025 (GLOBE NEWSWIRE) -- via IBN –  HUB Cyber Security Ltd. (NASDAQHUBC) (“HUB” or the “Company”), a leader in cybersecurity and advanced data fabric solutions, provides an update on recent filings and share registrations.

Settlement Agreement Covers Over 60% of the Company’s Secured Debt; Principal Payments Deferred to Mid-2025

TEL AVIV, Israel, Dec. 17, 2024 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd. (NASDAQHUBC) (“HUB” or the “Company”), a leading provider of cybersecurity solutions and advanced data fabric, announced receipt of a Staff Delisting Determination (the "Staff Determination") from the Listing Qualifications Department of the Nasdaq Stock Market, LLC ("Nasdaq"). The Company was notified that Nasdaq has determined to delist the Company's securities from the Nasdaq Global Market. As a result, the Company is exercising its right to request an appeal (the “Appeal”) of the Staff Determination before the Nasdaq Hearings Panel (the “Panel”). Such Appeal hearing request will result in a stay of any suspension or delisting action pending the Appeal hearing, and in the meantime, the Company’s securities will continue to be fully tradeable and listed on the Nasdaq Global Market

A Year of Transformation, Momentum, and Leadership in Secure Data Solutions and Modern Compliance

TEL AVIV, Israel, Nov. 29, 2024 (GLOBE NEWSWIRE) -- via IBN -- HUB Cyber Security Ltd. (NASDAQHUBC) (“HUB Security” or the “Company”), a leading provider of cybersecurity solutions and advanced data fabric, announces an agreement with AGP to reduce by 70% its $5.7 million convertible note obligations by way of amicably negotiated settlement, as part of the Company’s strategic efforts to strengthen its balance sheet and reduce overall debt.

Conference call will be held on Monday, December 2, 2024, at 9:00 am ET

TEL AVIV, Israel, Nov. 05, 2024 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd. (NASDAQHUBC) (“HUB Security”; or the “Company”), a leading provider of cybersecurity solutions and advanced data fabric, is pleased to provide an update on several initiatives and developments as it continues to enhance its market position and deliver value to its stakeholders.

TEL AVIV, Israel, Aug. 29, 2024 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd (Nasdaq: HUBC), a developer of cybersecurity solutions and services (the “Company”), was notified on August 23, 2024, by the Listing Qualifications department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company is no longer in compliance with Nasdaq Listing Rule 5450(b)(3) (the “Total Assets and Total Revenue Requirement”) because the Company’s total assets and total revenue for the most recently completed fiscal year and two of the last three most recently completed fiscal years were each below the minimum $50 million threshold for continued listing on The Nasdaq Global Market.

HUB and Blackswan Technologies Elevate Partnership to Penetrate Major Financial Institutions and Grant HUB the Option to Purchase BST. The Current Phase of the Collaboration Focuses on a Group of Banks in Western Europe, with a Deal Valued at Approximately €20 Million.

TEL AVIV, Israel, Aug. 19, 2024 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd. (NASDAQHUBC), a developer of confidential computing cybersecurity solutions and advanced data fabric ("HUB Security" or the "Company"), is pleased to announce the successful completion of a $3.3 million private placement from non-U.S. investors.

"HUB Security Embarks on New Chapter; with New Leadership Onboard, $42.6M in Revenue and a Solid Customer Base"

TEL AVIV, Israel, July 22, 2024 (GLOBE NEWSWIRE) -- via IBN – HUB Security Ltd (Nasdaq: HUBC), a developer of cybersecurity solutions and services (“HUB” or the “Company”), received a notification from The Nasdaq Stock Market (“Nasdaq”) notifying the Company that it is no longer in compliance with Nasdaq Listing Rule 5450(a)(1), because for the past 30 consecutive business days preceding the date of the notification (“Notice”), the bid price per share of the Company’s ordinary shares, no par value (“Ordinary Shares”) had closed below the $1.00 per share minimum bid price required for continued listing on Nasdaq (the “Minimum Bid Price Requirement”).

Total financing includes restructuring of $8M in debt, $2M in new debt, and $5M from warrant exercises

TEL AVIV, Israel, June 24, 2024 (GLOBE NEWSWIRE) -- via IBN -- HUB Cyber Security Ltd. (NASDAQHUBC), a developer of confidential computing cybersecurity solutions and advanced data services, today released the following statement regarding the recent announcement published on May 23, 2024:

TEL AVIV, Israel, June 20, 2024 (GLOBE NEWSWIRE) -- via IBN –- HUB Cyber Security Ltd. (NASDAQHUBC), a developer of confidential computing cybersecurity solutions and advanced data services, today released the following statement regarding recent press reports about a settlement with Oppenheimer & Co.:

The Money 20/20 event, a premier global gathering for payments and financial services innovation, will provide an excellent platform for the HUB and BlackSwan tech teams to showcase how they can boost bank cybersecurity.

TEL AVIV, Israel, May 23, 2024 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd. (Nasdaq: HUBC), a developer of confidential computing cybersecurity solutions and advanced data services ("HUB" or the "Company"), today announced that it requires additional time to complete the audit of its annual financial statements and file its Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (the “Annual Report”) with the Securities and Exchange Commission (“SEC”).

This contract, valued at around $2 million, underscores ongoing expansion and successful integration after a recent acquisition.

TEL AVIV, Israel, April 19, 2024 (GLOBE NEWSWIRE) -- via IBN -- HUB Cyber Security Ltd. (Nasdaq: HUBC), a developer of confidential computing cybersecurity solutions and advanced data services ("HUB" or the "Company"), addresses the proceedings initiated by Dominion in the US and Israel, including an application to the District Court of Tel Aviv to commence proceedings under Israeli insolvency law.

TEL AVIV, Israel, April 05, 2024 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd. (Nasdaq: HUBC), a developer of confidential computing cybersecurity solutions and services (‘HUB’ or the 'Company'), is pleased to announce a successful $8 million financing acquisition via a straight debt arrangement. This strategic financing is part of the company's ongoing effort to fortify its financial foundation and strategically invest in its future.

The acquisition adds 100+ top customers, and will significantly enhance HUB’s growth

A five-year contract to deploy cyber protective data-fabric solutions for transaction monitoring and cyber risk mitigation. Management anticipates that this contract will yield a significant impact on the 2024 financial results, with the total future potential being substantially higher.

Renewed Trust in Hub Cyber Security: Enhancing Risk Management and Compliance Measures for a Leading Credit Card Service Company in Ongoing Partnership.

TEL AVIV, Israel, Jan. 16, 2024 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd (Nasdaq: HUBC), a developer of Confidential Computing cybersecurity solutions and services ("HUB Security" or the "Company"), proudly announces the strategic appointment of Nachman Geva as its Chief Technology Officer (CTO). This move is meticulously crafted to position HUB Security at the forefront of the cybersecurity for the data fabric market, leveraging Geva's proven high-tech data analytics expertise and stellar track record.

New management sees a strong path to growth to over $100 million in revenues and profitability within the next two years

Building on a Successful Collaboration: HUB Security Upgrades Security Measures for Premier Entertainment Leader in Ongoing Partnership

The joint solutions will be used in a wide range of real-time battle computing on-ground military systems

TEL AVIV, Israel, Dec. 12, 2023 (GLOBE NEWSWIRE) -- via IBN – Hub Cyber Security Ltd. (Nasdaq: HUBC) (“HUB Security” or the “Company”), a developer of Confidential Computing cybersecurity solutions and services, today announced a 1-for-10 reverse share split of its ordinary shares, no par value per share (the “Ordinary Shares”). The reverse share split and corresponding share capital adjustment will become effective at 11:59 p.m. Eastern Time on December 14, 2023. The Ordinary Shares will begin trading on a split-adjusted basis on The Nasdaq Stock Market LLC (“Nasdaq”) at the open of business on Friday, December 15, 2023, under the existing trading symbol “HUBC,” but the Ordinary Shares will trade under a new CUSIP number, M6000J135. HUB Security’s outstanding warrants will continue to be traded under the symbols “HUBCW” and “HUBCZ” and the CUSIP numbers for such warrants will remain unchanged.

Management estimates the project to span over 3 years and potentially expand in scope and service revenues

TEL AVIV, Israel, Dec. 04, 2023 (GLOBE NEWSWIRE) -- via IBN -- HUB Cyber Security Ltd. (Nasdaq: HUBC), a developer of Confidential Computing cybersecurity solutions and services ("HUB Security" or the "Company"), is pleased to announce significant changes to its executive leadership team, marking a strategic shift to propel the Company's business and target shareholder value.

According to the framework agreement, management estimates revenue potential to exceed $25 million over the next 18 months

Tel Aviv, Nov. 06, 2023 (GLOBE NEWSWIRE) -- via IBN -- HUB Cyber Security Ltd (Nasdaq: HUBC), a developer of Confidential Computing cybersecurity solutions and services ("HUB Security" or the "Company"), today announced that it has signed a letter of intent for a financing and services agreement and strategic collaboration agreement with Blackswan Technologies, a top-tier enterprise AI company based in the United States. This strategic alliance heralds the commencement of a project in partnership with one of the Big4 Professional Services firms and their esteemed end customer, a globally renowned major banking group. The two companies are exploring the possibility of a potential merger.

TEL AVIV, Israel, Nov. 02, 2023 (GLOBE NEWSWIRE) -- via IBN -- HUB Cyber Security Ltd (Nasdaq: HUBC), a developer of Confidential Computing cybersecurity solutions and services ("HUB Security" or the "Company"), is delighted to announce a significant addition to its leadership team. The appointment will be effective from November 19, 2023. Kobi Levi, a finance executive with over 20 years of experience in global businesses, has been appointed as the Chief Financial Officer (CFO) of Hub Security. Levi's extensive background includes working with high-profile tier-one tech companies such as Apple, Netflix, and Amazon.

The potential acquisition is expected to boost HUB’s revenue for Confidential Computing, to improve the company's profit margins while adding multiple existing top-tier clientele to HUB’s portfolio, complementing HUB’s solutions with cyber vulnerability detection and risk-management automation for governments, enterprises, and SMEs. This move is a pivotal step in the company's transition, converting its cyber services division into cyber products.