HUB Cyber Security (NASDAQ: HUBC), a developer of confidential computing cybersecurity solutions and services, announced a 1-for-10 reverse share split of its ordinary shares. According to the announcement, the reverse share split along with the corresponding share capital adjustment will be effective on Dec. 14, 2023, at 11:59 p.m. ET. Ordinary shares will begin trading on a split-adjusted basis on the NASDAQ market at market open on Dec. 15, 2023, under the existing trading symbol HUBC but under a new CUSIP number: M6000J135. HUB Security’s outstanding warrants will continue to be traded under the symbols HUBCW and HUBCZ. The company noted that as a result of the reverse share split, every 10 issued and outstanding ordinary shares would automatically convert into one ordinary share. The reverse share split will also impact the company’s derivative securities, including outstanding notes, options, warrants and restricted share units. The reverse share split is designed to increase the per share trading price of the ordinary shares so that the company can regain compliance with NASDAQ’s minimum bid price requirement.
To view the full press release, visit https://ibn.fm/FrAV9
About HUB Cyber Security Ltd.
HUB Cyber Security was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The company specializes in unique cybersecurity solutions protecting sensitive commercial and government information. The company debuted an advanced encrypted computing solution aimed at preventing hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB Security operates in more than 30 countries and provides innovative cybersecurity computing appliances, as well as a wide range of cybersecurity services worldwide. For more information about the company, please visit www.HUBSecurity.com.
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