HUB Cyber Security Raises $13.5M in Funding to Streamline Financial Obligations

HUB Cyber Security Raises $13.5M in Funding to Streamline Financial Obligations

HUB Cyber Security, a prominent name in confidential computing and advanced data fabric technology, has recently achieved a significant milestone by resolving $16.6 million in legacy liabilities. This strategic move not only enhances the company’s financial stability but also positions it for future growth.

Successful Resolutions of Legacy Liabilities

Through effective negotiations with Oppenheimer & Co. and Dominion Capital, HUB Cyber Security has successfully eliminated $9.1 million in outstanding claims. The total liability has been reduced to a final settlement of $7.5 million.

Financing to Support Settlements

To facilitate these settlements, HUB secured $13.5 million in financing from Claymore Capital Pty Ltd. This funding is structured as long-term convertible notes, which allows HUB to meet its settlement obligations without any immediate cash outlay. Key features of the notes include:

  • Zero interest over a five-year term
  • Refinancing of short-term liabilities
  • Improved financial stability and liquidity

About HUB Cyber Security

Founded in 2017 by veterans from the Israeli Defense Forces’ elite intelligence units, HUB Cyber Security specializes in cutting-edge cybersecurity solutions. The company focuses on protecting sensitive commercial and government data through:

  • Encrypted computing technologies that prevent hardware-level intrusions
  • Mitigation of risks associated with data breaches

With operations in over 30 countries, HUB serves a diverse global client base, delivering innovative security solutions tailored to various needs.

CEO’s Vision for Future Growth

HUB Cyber Security CEO Noah Hershcoviz stated, “We are concluding a pivotal transitional period, successfully resolving significant legacy liabilities and eliminating obstacles that once limited our growth potential. Settling these obligations was a top priority for our management team upon joining HUB, and we are proud to have achieved this milestone.”

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He added, “With these settlements behind us, HUB is now fully focused on executing our growth strategy. Following our transformative BlackSwan acquisition and a complete executive-level restructuring, we are entering our next phase with a clear strategic direction and a strong pipeline of opportunities.”

This recent development not only strengthens HUB’s financial foundation but also positions the company to capitalize on growing market demand, ultimately enhancing its ability to create long-term value for shareholders.

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