HUB Cyber Security restructured $7M of its secured debt with United Mizrahi Tefahot Bank under a settlement agreement signed on December 19, 2024 between HUB and UMTB. The Agreement represents over 60% of HUB’s secured debt, through its wholly-owned subsidiary Comsec and reflects the Company’s commitment to address key financial obligations in its ongoing efforts to settle or extend most of its outstanding debt to achieve financial stability and confidence in its growth trajectory. Under the Agreement, payments are deferred until June 2025, aligning with HUB’s expected free cash flow generation. This milestone enhances liquidity and enables the Company to focus on scaling operations and delivering shareholder value. Furthermore, HUB is in advanced negotiations to refinance the remainder of its secured debt, with completion expected in the first quarter of 2025.
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Read More on HUBC:
- HUB Security reports 1H revenue $15.7M vs. $25M last year
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- HUB Security reduces $5.7M debt by 70%
- HUB Security provides an update on initiatives, developments
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