TEL-AVIV, Israel, March 30, 2022 /PRNewswire/ -- HUB Cyber Security (Israel) Limited (TASE: HUB), a Tel-Aviv based developer of Confidential Computing cybersecurity solutions and services ("HUB" or the "Company") announces today that the company intends to hold a virtual investor conference after publishing its financial statements for 2021. The conference will be held on Monday, April 4th, 2022.
The company will present all its business activities, including the status of the planned merger with the NASDAQ listed SPAC listed and the company's progress in sales and technology.
Until the conference's details are announced, the company's management asks to update the shareholders on the following issues to alleviate any misunderstanding or erroneous messages recently published by third parties that may mislead investors community:
HUB's business activity is progressing according to the company's estimates, with continuous business growth across all existing areas of activity expected to result in NIS 370 million in revenues for 2022. This expectation is based, inter alia, on transactions of cyber products and services, Confidential Computing, the company's existing backlog, and the acquisition transaction of Comsec (TASE ref no. 081019-01-2021, 098539-01-2021, 159387-01-2021) (the above mentioned revenue forecast does not include additional revenues from potential mergers and acquisitions that may be executed during fiscal year of 2022).
Following the announcement of the merger of HUB with the NASDAQ-listed SPAC, the company's management wants to inform that the merger transaction is continuing as planned at the agreed value of $1.28 billion and is expected to be completed in the 3rd quarter of 2022, as published in the Company's Informant Report (TASE ref no. 028539-01-2022). The transaction is on track, with SEC filing being in progress and the start of marketing to institutional investors in the United St ..
Support the originator by clicking the read the rest link below.
