Adrian Johnson
TLDR:
Hub Cyber Security shares are soaring after securing $8 million in financing and acquiring QPoint Technologies, opening up cross-selling opportunities across various sectors.
Hub Cyber Security Ltd. (NASDAQ:HUBC) shares are skyrocketing in the premarket session after securing $8 million in financing and completing the acquisition of QPoint Technologies for cash. The financing, secured via a straight debt arrangement, enhances the company’s financial stability and supports strategic growth initiatives. The acquisition of QPoint Technologies strengthens Hub Cyber Security’s portfolio and opens up cross-selling opportunities across sectors such as healthcare, government, energy, defense, and finance.
CEO Noah Hershcoviz highlighted the importance of securing the financing in fortifying the company’s financial foundation and enabling strategic initiatives. The acquisition of QPoint Technologies was described as a strategic move that aligns with the company’s long-term vision. The completion of the audit process signifies the company’s commitment to transparency and accountability to stakeholders.
As a result of these developments, HUBC shares are trading higher by 41.3% to $1.47 premarket, reflecting investor optimism in the company’s growth prospects and strategic direction.
