Tel Aviv, Israel
February 2, 2023
/PRNewswire/ — HUB Cyber Security Ltd (TASE: HUB), a developer of cybersecurity solutions and services for confidential computing (“HUB” or the “Company”), today in preparation for the Nasdaq listing and SPAC merger, today announced the following changes to the management of HUB Cyber Security. the master.
He will be promoted to assume the role of Chief of US Operations to better focus resources and attention on strategic business development for North America. the master.
Major General (retired) will replace Mr. Moshe as Chief Executive Officer (Chief Executive Officer).
Mr. Moskowitz is a retired Major General of the Israel Defense Forces, and former head of the Security and Defense Division of the Israel Defense Forces. He is a member of the Board of Directors of a number of public companies and Chairman of the Board of Directors of HUB Cyber Security. Moskowitz holds a Bachelor’s degree in Aeronautical Engineering from the Technion – Israel Institute of Technology and Master’s degrees in Business Administration and Strategy from the Polytechnic Institute of
New york university
and in Strategy and Political Science from the US Army War College.
HUB Cyber Security updates activated
2023, that it has received an irrevocable commitment by A-Labs Advisory & Finance Ltd. To replace HUB PIPE’s existing investor, Clover Wolf Fund, with the total
10 million US dollars
on the same terms.
About Mount Rainier Acquisition Corp.
Mount Rainier Acquisition Corp. is a blank check company sponsored by DC Rainier SPV LLC, a
A limited liability company operated by Dominion Capital LLC, whose business purpose is to achieve a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more companies.
About HUB Cyber Security Ltd
HUB Cyber Security Ltd (“HUB”) was founded in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israel Defense Forces. The company specializes in unique cybersecurity solutions that protect sensitive business and government information. The company introduced an advanced encrypted computing solution aimed at preventing hostile intrusions at the hardware level while introducing a new suite of data theft prevention solutions. HUB operates in more than 30 countries and provides innovative cybersecurity computing devices as well as a wide range of cybersecurity services worldwide.
As previously announced, the Company entered into a business combination agreement dated as of
March 23, 2022
as amended in
June 19, 2022
(as amended, “Business Combination Agreement”), with Hub Cyber Security Ltd. , which is a company regulated by laws
(“HUB Security”), and Rover Merger Sub, Inc. , a
A wholly owned subsidiary and subsidiary of HUB Security (“Merger Sub”). Pursuant to the terms of the Business Combination Agreement, the business combination between the Company and HUB Security will be effected through a sub-merger with the Company (“Amalgamation”), with the Company surviving as a wholly owned direct subsidiary of HUB Security. Capitalized terms used in this press release but not otherwise defined herein have the meanings given to them in the Business Combination Agreement. This press release contains forward-looking statements for the purposes of the safe harbor provisions under the US Private Securities Litigation Reform Act of 1995, including statements about the parties’ ability to close the proposed transaction, the expected benefits of the proposed transaction, the financial condition, results of operations, profit forecasts, and prospects for the Company. and/or center security, and may include data for the period following completion of the proposed transaction. Forward-looking statements are usually identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “expect,” “estimate,” “future,” “anticipate,” “project,” “continue,” “could,” “may,” “maybe,” “possible,” “likely,” “predict,” “seem,” “should,” “will,” and other similar words and expressions, but the absence of these words does not mean This statement is not forward-looking.
Forward-looking statements are based on the current expectations of the Company’s management and the security of the Center, as applicable, and are inherently subject to uncertainties, changes in circumstances and their potential effects and speak only as of the date of this release. There can be no guarantee that future developments will be those foreseen. These forward-looking statements involve a number of risks, uncertainties or other assumptions that could cause actual results or performance to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings filed with the SEC by the Company, HUB Security, and the following:
Forecasts regarding HUB Security’s strategies and future financial performance, including future business plans or goals, performance, potential opportunities and competitors, revenue, products and services, pricing, operating expenses, market trends, liquidity, cash flows, cash uses, capital expenditures, and capacity of HUB Security On investing in growth initiatives and pursuing acquisition opportunities;
the occurrence of any event, change or other circumstances that could lead to the termination of the business combination agreement and any final subsequent agreements in relation to the transaction contemplated therein;
the result of any legal proceedings that may be brought against the Company, HUB Security, the surviving company, or others after the announcement of the business combination agreement and the transaction contemplated therein;
Inability to complete proposed transactions due to, among other things, failure to obtain certain governmental and regulatory approvals or meet other conditions for closing, including delays in obtaining, adverse circumstances contained in, or inability to obtain necessary regulatory approvals or reviews the full regulatory requirements required to complete the proposed transaction;
the inability to obtain the financing necessary to complete the proposed transaction;
changes to the proposed structure of the proposed transaction that may be required or appropriate as a result of applicable laws or regulations or as a condition of obtaining regulatory approval for the proposed transaction;
the ability to meet the criteria for listing on the stock exchange after the completion of the proposed transaction;
the risk that the announcement and completion of the proposed transaction could disrupt HUB Security’s current operations and future plans;
the lack of a third party evaluation in determining whether or not to proceed with the proposed transaction;
the ability to recognize the expected benefits of the proposed transaction, which may be affected, among other things, by competition, the ability of HUB Security to grow and manage growth profitably, to maintain relationships with customers and suppliers and to retain its management and key personnel;
costs related to the proposed transaction;
limited liquidity and trading of the Company’s securities and HUB Security;
geopolitical risks, including military action and related sanctions, and changes in applicable laws or regulations;
the Company or the security of the position may be adversely affected by other economic, commercial and/or competitive factors;
inaccuracy for any reason in estimates of expenses, profitability and projected financial information for Center Security; And
Other risks and uncertainties set forth in the section entitled “Risk Factors” and the “Cautionary Note Regarding Forward-Looking Statements” in the Company’s final prospectus relating to its initial public offering dated
October 4, 2021
And the power of attorney data deposited in
December 5, 2022
December 9, 2022
Should one or more of these risks or uncertainties materialize or if any of the assumptions made by the Company’s management and Center Security prove incorrect, actual results could differ in material respects from those expressed or implied in these forward-looking statements.
All subsequent written and oral forward-looking statements regarding a proposed business combination or other matters addressed in this press release and attributable to the Company, HUB Security or anyone 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, the Company and HUB Security assume 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.
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