HUB Cyber Security (NASDAQ: HUBC) (“HUB Security”), a leading provider of cybersecurity solutions and advanced data fabric, on Friday announced an agreement with AGP to reduce by 70% its $5.7 million convertible note obligations by way of amicably negotiated settlement. The move is part of the company’s strategic efforts to strengthen its balance sheet and reduce overall debt. HUB Security also announced securing an additional $1 million investment from a private investor who previously invested an aggregate of $10 million in the company, supporting growth and key end-of-year initiatives. The company is additionally pursuing the refinance of a $7.5 million debt into a long-term settlement to further solidify its financial foundation. Finally, HUB Security also announced the strategic appointment of Ms. Renah Persofsky to its board of directors and various committees.
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About HUB Security Ltd.
HUB Cyber Security (“HUB”) was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The company specializes in unique cyber security solutions protecting sensitive commercial and government information. The company debuted an advanced encrypted computing solution to prevent 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 and a wide range of cybersecurity services worldwide. HUB’s Secured Data Fabric is a revolutionary product developed in partnership with BlackSwan Technologies that is emerging as a leader in highly secured and advanced data management and unification.
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