Hub Cyber Security Secures $2.65M Loan from Julestar LLC
Ticker: HUBCZ · Form: 6-K · Filed: Feb 10, 2025 · CIK: 1905660
Sentiment: neutral
Topics: financing, debt, loan
TL;DR
HUB secured a $2.65M loan from Julestar, paying back $3.11M via a note.
AI Summary
On February 4, 2025, Hub Cyber Security Ltd. entered into a loan agreement with Julestar LLC, securing a $2,650,000 loan. This loan is in exchange for a promissory note valued at $3,117,647.
Why It Matters
This financing provides Hub Cyber Security with crucial capital, potentially enabling further investment in its cybersecurity solutions and operations.
Risk Assessment
Risk Level: medium — The company is taking on debt, which increases financial leverage and risk, especially if revenue generation doesn't keep pace.
Key Numbers
- $2.65M — Loan Amount (Capital infusion from Julestar LLC.)
- $3.11M — Promissory Note Value (The principal amount of the note issued to Julestar LLC.)
Key Players & Entities
- Hub Cyber Security Ltd. (company) — Borrower
- Julestar LLC (company) — Lender
- $2,650,000 (dollar_amount) — Loan Principal
- $3,117,647 (dollar_amount) — Promissory Note Principal
- February 4, 2025 (date) — Loan Agreement Date
FAQ
What is the interest rate on the promissory note?
The filing does not specify the interest rate on the promissory note.
What are the repayment terms for the $3,117,647 promissory note?
The filing does not detail the specific repayment terms for the promissory note.
What is the maturity date of the loan?
The maturity date of the loan is not disclosed in this filing.
Are there any covenants or conditions associated with this loan agreement?
The filing does not provide details on any covenants or conditions related to the loan agreement.
What is the purpose of this $2,650,000 loan for Hub Cyber Security Ltd.?
The filing does not explicitly state the intended use of the loan proceeds.
Filing Stats: 804 words · 3 min read · ~3 pages · Grade level 14 · Accepted 2025-02-10 16:01:29
Key Financial Figures
- $2,650,000 — ant to which Julestar agreed to loan us $2,650,000 in consideration for a promissory note
- $3,117,647 — missory note in the principal amount of $3,117,647 (the “Note”). The principal
- $0.50 — . The exercise price of the Warrants is $0.50 per share, subject to adjustment in cer
- $5.0 m — rdinary course of business of more than $5.0 million, or multiple subsequent financing
- $7.0 million — rdinary course of business of more than $7.0 million in the aggregate, will be required to b
- $100,000 — We are entitled to prepay a minimum of $100,000 of the Note at any time, with no prepay
- $0.85 — r 30, 2024 automatically decreased from $0.85 to $0.50 per share. This Report on Fo
Filing Documents
- ea0230573-6k_hubcyber.htm (6-K) — 17KB
- 0001213900-25-011735.txt ( ) — 19KB
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: February 10, 2025 By: /s/ Noah Hershcoviz Noah Hershcoviz Chief Executive Officer 2