Summary by Futu AI
HUB Cyber Security Ltd. has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on September 13, 2024, for the potential resale of up to 49,253,117 ordinary shares and 11,687 Private Warrants by certain selling securityholders. The registration allows these securityholders to sell their shares in the public market at prevailing market prices or in private transactions. The company will not receive any proceeds from the sale of shares by the selling securityholders. However, HUB Cyber Security may receive up to approximately $40.6 million from the exercise of warrants, assuming full cash exercise at the lowest exercise price. The proceeds from the exercise of warrants are intended for general corporate purposes. The ordinary shares and warrants of HUB Cyber Security are listed on the Nasdaq Stock Market LLC under the symbols 'HUBC,' 'HUBCW,' and 'HUBCZ.' The company's financial statements have been audited by Kost, Forer, Gabbay & Kasierer, a member of EY Global, and include a note on the substantial doubt about the company's ability to continue as a going concern.