HUB Security reduces $5.7M debt by 70%

HUB Cyber Security announces an agreement with AGP to reduce by 70% its $5.7 million convertible note obligations by way of amicably negotiated settlement, as part of the Company’s strategic efforts to strengthen its balance sheet and reduce overall debt. The Company has also obtained an additional $1 million investment from a private investor who has previously invested an aggregate of $10 million in the Company, supporting growth and key end-of-year initiatives. Additionally, HUB Security (HUBC) is pursuing the refinancing of a further $7.5 million debt into a long-term settlement to solidify its financial foundation even more. Finally, the Company welcomes Renah Persofsky to its Board of Directors and to its various Committees, replacing Ms. Lior Lurye as a director of the Board. Ms. Persofsky has served on multiple boards of both Nasdaq listed and unlisted private companies and brings extensive business experience, a strong financial background and strategic insights that will contribute significantly to HUB Security’s growth and vision.