HUB Cyber Security Resolves $16.6 Million in Legacy Liabilities through Strategic Settlements with Oppenheimer & Co. and Dominion Capital; Secures $13.5 Million Financing on Favorable Terms

Core Viewpoint - HUB Cyber Security Ltd. has successfully settled significant legacy liabilities, reducing claims from $16.6 million to a final settlement of$7.5 million, which enhances the company's financial position and flexibility [1][2][3] Financial Settlements - The company eliminated 9.1 million in legacy liabilities through settlements with Oppenheimer & Co. Inc. and Dominion Capital [1] - HUB secured 13.5 million from Claymore Capital Pty Ltd in the form of long-term convertible notes to fund these settlements without cash outlay [2] - The settlement payments will be covered by Claymore, preserving HUB's liquidity and allowing for a focus on expansion [2] Strategic Direction - The CEO of HUB stated that resolving these legacy liabilities was a top priority, enabling the company to concentrate on its growth strategy [3] - Following the acquisition of BlackSwan and an executive restructuring, HUB is entering a new phase with a clear strategic direction and a strong pipeline of opportunities [3] Company Overview - HUB Cyber Security Ltd. specializes in advanced cybersecurity solutions, protecting sensitive information for commercial and government clients [4] - Established in 2017 by veterans of the Israeli Defense Forces, the company operates in over 30 countries [4]