HUB Announces Reverse Share Split
Hub Cyber Security (HUBC) has announced a 1-for-10 reverse share split of its ordinary shares, effective March 28, 2025. Trading on the adjusted basis will begin on Nasdaq on March 31, 2025, under the same symbol 'HUBC' but with a new CUSIP number M6000J168.
The split will convert every 10 outstanding ordinary shares into one share, with fractional shares rounded down. The company's warrants (HUBCW and HUBCZ) will continue trading with unchanged CUSIP numbers. The split will also affect derivative securities, including notes, options, warrants, and restricted share units, with adjustments to maintain economic equivalence.
This strategic move aims to increase the per-share trading price and help HUBC regain compliance with Nasdaq's minimum bid price requirement under Listing Rule 5450(a)(1).
Hub Cyber Security (HUBC) ha annunciato uno split azionario inverso di 1 per 10 delle sue azioni ordinarie, con effetto dal 28 marzo 2025. La negoziazione sulla base adeguata inizierà su Nasdaq il 31 marzo 2025, sotto lo stesso simbolo 'HUBC' ma con un nuovo numero CUSIP M6000J168.
Lo split convertirà ogni 10 azioni ordinarie in una sola azione, con le frazioni di azioni arrotondate per difetto. I warrant della società (HUBCW e HUBCZ) continueranno a essere negoziati con numeri CUSIP invariati. Lo split influenzerà anche i titoli derivati, inclusi note, opzioni, warrant e unità di azioni vincolate, con adeguamenti per mantenere l'equivalenza economica.
Questa mossa strategica mira ad aumentare il prezzo di negoziazione per azione e ad aiutare HUBC a riconquistare la conformità con il requisito di prezzo minimo di offerta di Nasdaq secondo la Regola di quotazione 5450(a)(1).
Hub Cyber Security (HUBC) ha anunciado un split de acciones inverso de 1 por 10 de sus acciones ordinarias, que entrará en vigor el 28 de marzo de 2025. La negociación en la base ajustada comenzará en Nasdaq el 31 de marzo de 2025, bajo el mismo símbolo 'HUBC' pero con un nuevo número CUSIP M6000J168.
El split convertirá cada 10 acciones ordinarias en una acción, con las acciones fraccionarias redondeadas hacia abajo. Los warrants de la empresa (HUBCW y HUBCZ) continuarán negociándose con números CUSIP sin cambios. El split también afectará a los valores derivados, incluidos notas, opciones, warrants y unidades de acciones restringidas, con ajustes para mantener la equivalencia económica.
Este movimiento estratégico tiene como objetivo aumentar el precio de negociación por acción y ayudar a HUBC a recuperar el cumplimiento con el requisito de precio mínimo de oferta de Nasdaq bajo la Regla de cotización 5450(a)(1).
Hub Cyber Security (HUBC)는 2025년 3월 28일부터 시행되는 1대 10 역주식 분할을 발표했습니다. 조정된 기준으로의 거래는 2025년 3월 31일부터 Nasdaq에서 동일한 기호 'HUBC'로 시작되지만 새로운 CUSIP 번호 M6000J168로 진행됩니다.
이번 분할은 10주당 1주로 변환되며, 분할된 주식은 아래로 반올림됩니다. 회사의 워런트(HUBCW 및 HUBCZ)는 변경되지 않은 CUSIP 번호로 계속 거래됩니다. 분할은 또한 노트, 옵션, 워런트 및 제한 주식 단위를 포함한 파생 증권에 영향을 미치며, 경제적 동등성을 유지하기 위한 조정이 이루어집니다.
이 전략적 조치는 주당 거래 가격을 높이고 HUBC가 Nasdaq의 최소 입찰 가격 요건을 준수할 수 있도록 돕기 위한 것입니다. 이는 상장 규칙 5450(a)(1) 하에 이루어집니다.
Hub Cyber Security (HUBC) a annoncé un reverse split de 1 pour 10 de ses actions ordinaires, effectif le 28 mars 2025. La négociation sur la base ajustée commencera sur le Nasdaq le 31 mars 2025, sous le même symbole 'HUBC' mais avec un nouveau numéro CUSIP M6000J168.
Le split convertira chaque 10 actions ordinaires en une action, avec les actions fractionnaires arrondies à la baisse. Les bons de souscription de la société (HUBCW et HUBCZ) continueront à être négociés avec des numéros CUSIP inchangés. Le split affectera également les titres dérivés, y compris les obligations, les options, les bons de souscription et les unités d'actions restreintes, avec des ajustements pour maintenir l'équivalence économique.
Ce mouvement stratégique vise à augmenter le prix de négociation par action et à aider HUBC à retrouver la conformité avec l'exigence de prix d'offre minimum de Nasdaq selon la Règle de cotation 5450(a)(1).
Hub Cyber Security (HUBC) hat einen 1-zu-10 Rückwärtssplit seiner Stammaktien angekündigt, der am 28. März 2025 in Kraft tritt. Der Handel auf der angepassten Basis beginnt am 31. März 2025 an der Nasdaq unter dem gleichen Symbol 'HUBC', jedoch mit einer neuen CUSIP-Nummer M6000J168.
Der Split wandelt jede 10 ausstehenden Stammaktien in eine Aktie um, wobei Bruchstücke abgerundet werden. Die Warrants des Unternehmens (HUBCW und HUBCZ) werden weiterhin mit unveränderten CUSIP-Nummern gehandelt. Der Split wird auch derivative Wertpapiere betreffen, einschließlich Anleihen, Optionen, Warrants und beschränkten Aktieneinheiten, mit Anpassungen zur Aufrechterhaltung der wirtschaftlichen Äquivalenz.
Dieser strategische Schritt zielt darauf ab, den Handelspreis pro Aktie zu erhöhen und HUBC zu helfen, die Einhaltung der Mindestgebotsanforderung von Nasdaq gemäß der Listing-Regel 5450(a)(1) wiederherzustellen.
- Strategic move to maintain Nasdaq listing compliance
- No impact on shareholders' ownership percentages
- Warrants continue trading without disruption
- Potential loss of value from fractional shares being rounded down
- Indicates previous trading price was below Nasdaq requirements
- May signal company's struggle to maintain market value
Insights
Hub Cyber Security's 1-for-10 reverse share split is a strategic corporate action designed to address Nasdaq compliance issues. With the current share price at
This maneuver is purely technical in nature - it neither creates nor destroys fundamental value, as each shareholder will maintain their proportional ownership. The rounding down of fractional shares could cause minimal equity adjustments for small shareholders, while all derivative securities will be proportionally adjusted to maintain economic equivalence.
Investors should understand that while this action preserves Nasdaq listing status - which maintains access to capital markets and institutional investors - reverse splits don't address underlying business fundamentals. The success of this recapitalization effort will ultimately depend on the company's operational performance after the split takes effect on March 31.
The restructuring extends to all outstanding notes, options, warrants and restricted share units, with adjustments to exercise prices and issuable shares to maintain consistent economics across all securities.
TEL AVIV, Israel, March 27, 2025 (GLOBE NEWSWIRE) -- Hub Cyber Security Ltd. (Nasdaq: HUBC) (“HUB Security” or the “Company”), a global leader in confidential computing and secured data fabric technology, today announced a 1-for-10 reverse share split of its ordinary shares, no par value per share (the “Ordinary Shares”). The reverse share split and corresponding share capital adjustment will become effective at 11:59 p.m. Eastern Time on Friday, March 28, 2025. The Ordinary Shares will begin trading on a split-adjusted basis on The Nasdaq Stock Market LLC (“Nasdaq”) at the open of business on Monday, March 31, 2025, under the existing trading symbol “HUBC,” but the Ordinary Shares will trade under a new CUSIP number, M6000J168. HUB Security’s outstanding warrants will continue to be traded under the symbols “HUBCW” and “HUBCZ” and the CUSIP numbers for such warrants will remain unchanged.
As a result of the reverse share split, every 10 issued and outstanding Ordinary Shares will automatically be converted into one Ordinary Share. No fractional shares will be issued as a result of the reverse share split. Instead, in accordance with the Company’s Amended and Restated Articles of Association, all fractional shares will be rounded down to the nearest whole share. The reverse share split affects all shareholders uniformly and will not alter any shareholder’s percentage ownership interest in the Company’s issued and outstanding Ordinary Shares, except for adjustments that may result from the treatment of fractional shares.
The reverse share split will also affect the Company’s derivative securities, including outstanding notes, options, warrants and restricted share units (collectively, the “Outstanding Equity Rights”). Generally, the plans and other documents pertaining to the Outstanding Equity Rights include provisions providing for adjustments in the event of a reverse share split in order to maintain the same economic effect. Specifically, the exercise price and the number of Ordinary Shares issuable pursuant to Outstanding Equity Rights will be adjusted pursuant to the terms of such instruments in connection with the reverse share split.
The Company believes the reverse share split will increase the per share trading price of the Ordinary Shares and enable the Company to regain compliance with the minimum bid price requirement in Nasdaq Listing Rule 5450(a)(1).
Additional information regarding the reverse share split can be found in the Company’s proxy statement furnished to the Securities and Exchange Commission on February 4, 2025.
For further information or inquiries, please contact: info@hubsecurity.com
About HUB Security Ltd.
HUB Cyber Security Ltd. (“HUB Security” or the “Company”) was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The Company specializes in unique Cyber Security solutions protecting sensitive commercial and government information. The Company debuted an advanced encrypted computing solution aimed at preventing hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB Security operates in over 30 countries and provides innovative cybersecurity computing appliances, as well as a wide range of cybersecurity services worldwide.
Forward-Looking Statements
This press release contains forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “future,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “seem,” “should,” “will,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements are based on the current expectations of the management of HUB Security, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties, or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the SEC by the HUB Security and the following: (i) significant uncertainty regarding the adequacy of HUB Security’s liquidity and capital resources and its ability to repay its obligations as they become due; (ii) the war between Israel and Hamas, and the expansion of hostilities to other fronts, which may harm Israel’s economy and HUB Security’s business; (iii) expectations regarding HUB Security’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and HUB Security’s ability to invest in growth initiatives and pursue acquisition opportunities; (iv) the outcome of any legal or regulatory proceedings against HUB Security in connection with our previously announced internal investigation or otherwise; (v) the ability to cure and meet stock exchange continued listing standards by the applicable deadline and remain listed on the Nasdaq; (vi) competition, the ability of HUB Security to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (vii) limited liquidity and trading of HUB Security’s securities; (viii) geopolitical risk, including military action and related sanctions, and changes in applicable laws or regulations; (ix) the possibility that HUB Security may be adversely affected by other economic, business, and/or competitive factors; and (x) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in HUB Security’s Annual Report on Form 20-F/A filed on October 22, 2024.
Should one or more of these risks or uncertainties materialize, or should any of the assumptions made by the management of HUB Security prove incorrect, actual results may vary in material respects from those expressed or implied in these forward-looking statements.
All subsequent written and oral forward-looking statements concerning the business combination or other matters addressed in this press release and attributable to HUB Security or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in the press release. Except to the extent required by applicable law or regulation, HUB Security undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release to reflect the occurrence of unanticipated events.
About HUB Cyber Security Ltd.
HUB Cyber Security Ltd. (NASDAQ: HUBC) is a global leader in confidential computing and cybersecurity solutions, delivering advanced data protection for enterprises and governments worldwide. For more information, visit www.hubsecurity.com.
Investor Relations:
Lytham Partners
Ben Shamsian
646-829-9701
shamsian@lythampartners.com
FAQ
When will HUBC's reverse stock split take effect?
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