Israel’s Tel Aviv, May 4, 2023 – Lind Global Asset Management VI LLC, an investment entity managed by The Lind Partners, a New York-based institutional fund manager (collectively, “Lind”), has agreed to pay up to USD 16 million in gross proceeds to HUB Cyber Security Ltd (NASDAQ: HUBC), a provider of Confidential Computing cybersecurity solutions and services (“HUB Security” or the “Company”).
This investment will give HUB Security more resources to support its rapid growth and development, improve its financial stability, and allow the company to achieve its long-term goals.
Uzi Moskowitz, CEO of HUB Security, said that the additional capital from The Lind Partners “fortifies our balance sheet and enables us to position HUB Security as a leading confidential computing cybersecurity solutions provider in the market.” “We are overjoyed to have Lind as a travel companion. Their unwavering dedication and encouragement will help us get closer to realizing our objectives of improving technological development and broadening go-to-market methods.
According to the terms of the deal with Lind, HUB Security will have access to financing in the form of three tranches of up to $16 million in convertible notes that will mature over two years. The Company will receive the first $4.5 million tranche immediately following the transaction’s completion, and the remaining two tranches, totaling $11.5 million, subject to the satisfaction of certain requirements.
About the investors:
The Lind Partners is a leading provider of growth capital to small- and mid-cap firms with stock exchanges listed in the US, Canada, Australia, and the UK. Lind’s funds invest directly, through syndicated equity offerings, and selectively buy on the market, with direct investments ranging from $1 to $30 million. Since 2011, Lind’s funds have been adaptable and helpful capital partners to investee firms, having completed over 150 direct investments with a transaction value of over USD 1.5 billion.
About the Company:
Veterans of the Israeli Defence Forces’ 8200 and 81 special intelligence units founded HUB Cyber Security Ltd in 2017. It started trading as a public business on Nasdaq on March 1, 2023, using the “HUBC.” HUB Security is a recognized leader in the quickly developing field of zero-trust confidential computing, an area of cybersecurity that protects data even when computers are infected, and administrators are compromised. HUB Security specializes in innovative cybersecurity solutions protecting sensitive commercial and government information. The computer solutions offered by HUB Security are designed to stop malicious hardware incursions while bringing a fresh set of keys to prevent data theft.
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