Summary by Futu AI
On November 29, 2024, HUB Cyber Security announced a significant reduction of its $5.7 million convertible note obligations by 70% through a settlement with AGP. This strategic move aims to strengthen the company's balance sheet. Additionally, HUB secured a $1 million investment from a private investor, supporting its growth and end-of-year initiatives.The company is also pursuing the refinancing of an additional $7.5 million debt into a long-term settlement to further solidify its financial foundation. In a leadership update, HUB welcomed Ms. Renah Persofsky to its Board of Directors, enhancing corporate governance with her extensive business experience.CEO Noah Hershcoviz emphasized these achievements as critical steps in enhancing financial resilience and delivering top-quality cybersecurity solutions. The company remains committed to innovation and expanding its leadership in the global cybersecurity landscape.