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HUB Cyber Security Ltd announced key dates for its merger with Mount Rainier Acquisition Corp (RNER) and subsequent Nasdaq listing. The merger is set for February 27, 2023, with trading expected to begin on Nasdaq under new symbols on February 28, 2023. HUB specializes in cybersecurity solutions, operating in over 30 countries, and aims to enhance its market footprint through this merger. The transition to Nasdaq is anticipated to be seamless for investors, facilitating immediate buy and sell orders through local brokers.
HUB Cyber Security announced the fulfillment of all conditions for its merger with Mount Rainier Acquisition Corp (Nasdaq:RNER), valued at $1.28 billion. This merger represents a significant milestone for HUB, a developer of cybersecurity solutions specializing in confidential computing. The completion is contingent upon the absence of legal impediments, with at least ten trading days remaining on the Tel-Aviv Stock Exchange before the delisting and transition to Nasdaq. HUB aims to enhance its market position and expand its offerings globally.
Mount Rainier Acquisition Corp. (NASDAQ: RNER) announced that shareholders approved its business combination with HUB Cyber Security (Israel) Ltd. (TASE: HUB) at a special meeting on January 4, 2023. The transaction is expected to close in late January 2023, pending customary conditions. HUB Security specializes in Confidential Computing cybersecurity solutions and aims to list its shares and warrants on The Nasdaq Capital Market post-merger. The integration is anticipated to strengthen HUB's market presence and enhance its product offerings in over 30 countries.
HUB Cyber Security has submitted an amendment to the registration statement on Form F-4 with the SEC to facilitate its merger with Mount Rainier Acquisition Corp (NASDAQ: RNER) and list shares on Nasdaq, targeting a pre-money valuation of $1.28 billion. Pending SEC approval and shareholder consent, the merger could yield gross proceeds between $50 million and $225 million. Current shareholders in Israel will convert to Nasdaq shares post-merger, subject to a reverse stock split.
HUB Cyber Security Limited, a Tel Aviv-based cybersecurity solutions developer, is preparing for its merger with Mount Rainier Acquisition Corp. (NASDAQ: RNER) by restructuring its executive team. Major General (ret.) Uzi Moskowitz has been appointed as Chairman, succeeding retiring Sigmund Bluvband. Additional leadership changes include the appointment of new CFO and COO executives with NASDAQ experience. These changes aim to enhance governance and professional skills ahead of the expected NASDAQ listing. The merger is subject to regulatory approvals and market conditions.
HUB Cyber Security announced a definitive business combination agreement with Mount Rainier Acquisition Corp. (RNER), valued at approximately
HUB Cyber Security and Mount Rainier Acquisition Corp. (RNER) have announced a definitive business combination agreement. The merger aims to boost HUB's operations in the U.S. and expand its market presence in Confidential Computing, which is projected to reach $54 billion by 2026. The combined entity will operate under the name HUB Security and is expected to list on Nasdaq as "HUBC" with a pro forma valuation of approximately $1.28 billion. HUB shareholders will retain 100% of their equity, owning about 81% of the merged company.
