Key Takeaways:
- HUB Cyber Security Ltd. has received a notification from Nasdaq regarding non-compliance with the minimum Market Value of Listed Securities (MVLS) requirement of $35 million.
- The company has a 180-day compliance period to regain compliance with the MVLS requirement.
- HUB Cyber Security Ltd. intends to take all reasonable measures to regain compliance and remain listed on Nasdaq.
- The company’s failure to comply with the MVLS requirement may result in delisting from Nasdaq.
- HUB Cyber Security Ltd. is a global leader in confidential computing, AI-driven data fabric, and cybersecurity, with operations in North America, Europe, and Israel.
Introduction to HUB Cyber Security Ltd.
HUB Cyber Security Ltd., a global leader in confidential computing and secured data fabric technologies, has announced that it received a notification from The Nasdaq Stock Market LLC regarding non-compliance with the minimum Market Value of Listed Securities (MVLS) requirement of $35 million. This requirement is essential for continued listing on The Nasdaq Capital Market. The notification has no immediate effect on the listing of the company’s ordinary shares, which will continue to trade uninterrupted on Nasdaq under the ticker "HUBC."
Non-Compliance with Nasdaq Listing Rule
The notification from Nasdaq states that HUB Cyber Security Ltd. is currently not in compliance with Nasdaq Listing Rule 5550(b)(2), which requires the company to maintain a minimum MVLS of $35 million. The company has a compliance period of 180 calendar days, or until July 20, 2026, to regain compliance with the MVLS requirement. If the company’s MVLS closes at $35 million or more for a minimum of 10 consecutive business days during the compliance period, Nasdaq will provide written confirmation of compliance, and the matter will be closed.
Consequences of Non-Compliance
If HUB Cyber Security Ltd. fails to regain compliance within the compliance period, the company will receive written notification that its securities are subject to delisting. The company would have the right to a hearing before an independent panel, which would stay any suspension or delisting action pending the conclusion of the hearing process. However, there can be no assurance that an appeal to the hearings panel would be successful. The company’s failure to comply with the MVLS requirement may result in delisting from Nasdaq, which could have a significant impact on the company’s stock price and investors.
Company’s Response to Non-Compliance
HUB Cyber Security Ltd. intends to take all reasonable measures available to regain compliance with the MVLS requirement under the Nasdaq Listing Rules and to remain listed on Nasdaq. The company is committed to meeting the highest standards of corporate governance and regulatory compliance. However, there can be no assurances that the company would ultimately be able to regain compliance with all applicable requirements for continued listing on the Nasdaq Capital Market.
About HUB Cyber Security Ltd.
HUB Cyber Security Ltd. is a global leader in confidential computing, AI-driven data fabric, and cybersecurity. The company’s Secured Data Fabric (SDF) empowers organizations to virtualize, secure, and analyze sensitive data across borders and silos, generating real-time intelligence while meeting the highest regulatory standards. With operations across North America, Europe, and Israel, HUB partners with Fortune 100 companies, global banks, and sovereign institutions to secure the next generation of digital infrastructure.
Forward-Looking Statements
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. 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. 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.
Risk Factors
The forward-looking statements involve a number of risks, uncertainties, or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the company’s ability to meet stock exchange continued listing standards and remain listed on the Nasdaq, significant uncertainty regarding the adequacy of HUB’s liquidity and capital resources, and the war between Israel and Hamas, which may harm Israel’s economy and HUB’s business. The company’s failure to comply with the MVLS requirement may result in delisting from Nasdaq, which could have a significant impact on the company’s stock price and investors.
