![]() ![]() There can be no assurance that future developments will be those that have been anticipated. The forward-looking statements are based on the current expectations of the management of HUB, 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. 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. 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, including statements about the anticipated benefits of the transaction, and the financial condition, results of operations, earnings outlook, and prospects of the combined company. HUB operates in over 30 countries and provides innovative cybersecurity computing appliances as well as a wide range of cybersecurity services worldwide. HUB 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 specializes in unique Cyber Security solutions protecting sensitive commercial and government information. HUB Cyber Security Ltd ('HUB') was established in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israeli Defense Forces. The remaining PIPE funds are currently being negotiated with investors and the Company remains in discussions with the investors to receive those funds. The shares were sold pursuant to the original PIPE terms entered into in connection with the Company's business combination. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members.( MENAFN- PR Newswire) TEL AVIV, Israel, Ma/PRNewswire/ - HUB Cyber Security Ltd (NASDAQ: hubc ), a developer of Confidential Computing cybersecurity solutions and services ('HUB' or the 'Company'), today announced that it had issued and sold approximately 400,000 shares to two of the original PIPE investors at a price per share of $10 for proceeds of approximately $4 million dollars, in a private placement. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Since the consummation of the Merger on February 28, 2023, HUB’s share price has fallen sharply, damaging investors. HUB has stated that the postponement was due to the withdrawal of an investor, the Clover Wolf hedge fund, from participation in the private investment in public equity (“PIPE”) fundraising conducted in connection with the Merger. Mount Rainier stated that “he business combination is expected to close in late January 2023, subject to the satisfaction of certain customary closing conditions” and that HUB’s securities were expected to be listed on the Nasdaq “effective at the consummation of the business combination.” Then, on January 26, 2023, Hub issued a press release announcing “that following the receipt of all approvals and compliance with the conditions for the expected merger with Mount Rainier Acquisition Corp and transition to trading on the Nasdaq stock exchange,” the Company expected its shares and warrants to begin trading on the Nasdaq on February 28, 2023, representing a delay of nearly one month from Mount Rainier’s earlier announcement that the Merger would close in late January. (“Mount Rainier”), a special-purpose acquisition company (“SPAC”), announced that its stockholders had voted to approve its proposed business combination with HUB (the “Merger”). On January 5, 2023, Mount Rainier Acquisition Corp. The investigation concerns whether HUB and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. ![]() Such investors are advised to contact Robert S. EIN News/ - NEW YORK, Ma(GLOBE NEWSWIRE) - Pomerantz LLP is investigating claims on behalf of investors of HUB Cyber Security (Israel) Ltd. ![]()
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