Hub Cyber Security Acquires QPoint Technologies
Ticker: HUBCZ · Form: 6-K · Filed: Apr 5, 2024 · CIK: 1905660
Sentiment: neutral
Topics: acquisition, cybersecurity, strategy
TL;DR
HUB acquired QPoint to build out their data fabric ecosystem.
AI Summary
On April 4, 2024, Hub Cyber Security Ltd. announced the acquisition of QPoint Technologies Ltd. for an undisclosed amount. This acquisition is part of Hub Cyber Security's strategy to advance its plans for a secured data fabric ecosystem.
Why It Matters
This acquisition aims to bolster Hub Cyber Security's capabilities in creating a secured data fabric, potentially enhancing its market position in cybersecurity solutions.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges and the potential for overpayment, which could impact financial performance.
Key Players & Entities
- Hub Cyber Security Ltd. (company) — Acquiring company
- QPoint Technologies Ltd. (company) — Acquired company
- April 4, 2024 (date) — Date of press release
FAQ
What is the primary strategic goal behind Hub Cyber Security's acquisition of QPoint Technologies?
The acquisition is intended to advance Hub Cyber Security's plans for a secured data fabric ecosystem.
When was the press release announcing the acquisition issued?
The press release was issued on April 4, 2024.
What is the name of the acquired company?
The acquired company is QPoint Technologies Ltd.
What is the SEC filing form used for this announcement?
The filing form used is a 6-K.
What is the principal executive office address of Hub Cyber Security Ltd.?
The principal executive office address is 2 Kaplan St. Tel Aviv 6473403, Israel.
Filing Stats: 928 words · 4 min read · ~3 pages · Grade level 12.9 · Accepted 2024-04-05 16:01:10
Key Financial Figures
- $8 Million — itled “HUB Cyber Security Secures $8 Million in Financing to Accelerate Growth and S
- $8 million — Financial Position” regarding an $8 million financing transaction (the “Finan
- $8,000,000 — ) with an aggregate principal amount of $8,000,000, and warrants (the “Warrants&rdqu
- $25,000,000 — financing in the Company of at least US$25,000,000. The principal amount under the Notes c
- $0.90 — conversion rate shall not be lower than $0.90. The loan amount is secured by a pledge
- $1.00 — rcisable for an exercise price equal to $1.00 per share until April 3, 2027. The con
Filing Documents
- ea0203361-6k_hubcyber.htm (6-K) — 18KB
- ea020336101ex99-1_hubcyber.htm (EX-99.1) — 14KB
- ea020336101ex99-2_hubcyber.htm (EX-99.2) — 11KB
- ex99-1_001.jpg (GRAPHIC) — 5KB
- ex99-1_002.jpg (GRAPHIC) — 5KB
- 0001213900-24-030806.txt ( ) — 59KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Hub Cyber Security Ltd. Date: April 5, 2024 By: /s/ Noah Hershcoviz Noah Hershcoviz Chief Executive Officer 2 EXHIBIT INDEX Exhibit Number Description 99.1 Press Release, dated April 4, 2024. 99.2 Press Release, dated April 5, 2024. 3