Hub Security, a prominent player in the cybersecurity domain, has announced a successful financial restructuring and capital raising effort, amounting to $15m.
This significant financial move includes the restructuring of $8m in debt due this month and the securing of an additional $2m in debt financing. Furthermore, key shareholders exercised warrants at a price of $0.90 per share, injecting an additional $5m into the company’s capital.
HUB Cyber Security specializes in developing computing cybersecurity solutions and advanced data services. Established in 2017 by veterans of the elite Israeli Defense Forces’ intelligence units, Hub Security has been at the forefront of delivering cutting-edge cybersecurity solutions globally.
The funds from this financial restructuring are earmarked for several strategic initiatives. Noah Hershcoviz, CEO of Hub Security, expressed enthusiasm about the successful financial moves. “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.”
The company plans to use the new financial resources to enhance its product offerings, advance its Secure Data Fabric (SDF) roadmap, and further its growth in the cybersecurity sector.
Additionally, the company operates in over 30 countries, offering innovative cybersecurity computing appliances and a range of services aimed at preventing hostile intrusions at the hardware level and combating data theft.
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