HUB Cyber Security Nasdaq Minimum Bid Price Warning
Ticker: HUBCZ · Form: 6-K · Filed: Jul 22, 2024 · CIK: 1905660
Sentiment: bearish
Topics: delisting-warning, compliance, stock-price
TL;DR
Nasdaq says HUB stock too low, needs to fix by Jan 19 or get booted.
AI Summary
On July 22, 2024, HUB Cyber Security Ltd. received a notification from Nasdaq indicating that its stock has not met the minimum bid price requirement of $1.00 per share. The company has a grace period of 180 calendar days, until January 19, 2025, to regain compliance. Failure to do so could result in the delisting of its securities from the Nasdaq Capital Market.
Why It Matters
This notification signals potential delisting from Nasdaq if the stock price does not recover, which could significantly impact investor confidence and the company's ability to raise capital.
Risk Assessment
Risk Level: high — The company is at high risk of delisting from Nasdaq if it cannot meet the minimum bid price requirement within the specified timeframe.
Key Numbers
- $1.00 — Minimum Bid Price (The threshold HUB Cyber Security must maintain to stay listed on Nasdaq.)
- 180 days — Grace Period (The timeframe given to HUB Cyber Security to comply with the minimum bid price rule.)
Key Players & Entities
- HUB Cyber Security Ltd. (company) — The company receiving the Nasdaq notification.
- Nasdaq (company) — The stock exchange that issued the minimum bid price warning.
- $1.00 (dollar_amount) — The minimum bid price requirement.
- January 19, 2025 (date) — The deadline for HUB Cyber Security to regain compliance.
FAQ
What is the specific reason for the Nasdaq notification to HUB Cyber Security Ltd.?
HUB Cyber Security Ltd. received the notification because its stock has not met the minimum bid price requirement of $1.00 per share.
What is the deadline for HUB Cyber Security Ltd. to regain compliance with Nasdaq's minimum bid price rule?
The company has until January 19, 2025, which is 180 calendar days from the notification date of July 22, 2024, to regain compliance.
What are the potential consequences if HUB Cyber Security Ltd. fails to regain compliance?
If the company fails to regain compliance, its securities may be delisted from the Nasdaq Capital Market.
What actions can HUB Cyber Security Ltd. take to meet the minimum bid price requirement?
The filing does not specify the actions the company will take, but typically companies may consider a reverse stock split or other measures to increase their stock price.
When was the press release regarding this notification issued?
The press release titled 'HUB Receives Nasdaq Notification Regarding Minimum Bid Price Requirement' was issued on July 22, 2024.
Filing Stats: 296 words · 1 min read · ~1 pages · Grade level 11.2 · Accepted 2024-07-22 17:11:36
Filing Documents
- ea0209830-6k_hubcyber.htm (6-K) — 14KB
- ea020983001ex99-1_hubcyber.htm (EX-99.1) — 13KB
- ex99-1_001.jpg (GRAPHIC) — 4KB
- 0001013762-24-000524.txt ( ) — 33KB
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: July 22, 2024 By: /s/ Noah Hershcoviz Noah Hershcoviz Chief Executive Officer 2 EXHIBIT INDEX Exhibit Number Description 99.1 Press Release, dated July 22, 2024. 3