TEL
AVIV, Israel, April 18,
2023 /PRNewswire/ -- HUB Cyber Security Ltd (NASDAQ:
HUBC), a developer of Confidential Computing cybersecurity
solutions and services ("HUB Security" or the "Company"), today
announced that it has appointed Ilan
Flato to its Board of Directors. Mr. Flato is the president
and CEO of the Israeli Association of Publicly Traded Companies and
the former economic advisor to the Prime Minister of Israel.
"We are thrilled to announce the addition of Ilan Flato to our board of directors. His
extensive experience and expertise will make him an invaluable
addition to the HUB Security team", said Uzi Moskowitz, CEO of HUB Security. "His
contributions are expected to be multi-faceted and will help the
Company achieve its goals and objectives while simultaneously
ensuring that the Company operates within the boundaries of the law
and industry best practices".
Ilan Flato, president and CEO of
the Israeli Association of Publicly Traded Companies, has held
senior economic positions in government agencies for 35 years. He
has participated in cabinet meetings and economic committees as a
former economic advisor to the Prime Minister of Israel. Deputy Director at the Ministry of
Finance, he was responsible for managing the budgets of the
Ministry of Defense, the Ministry of Foreign Affairs, the Ministry
of Justice and the State President's office. Mr. Flato also served
as Vice President and Chief Economist for the United Mizrahi Bank,
and as a board member of the Israeli Aircraft Industry, the Israeli
Military Industry, Rafael and El Al Israel Airlines.
About HUB Security Ltd.
HUB Cyber Security Ltd was established in 2017 by veterans of
the 8200 and 81 elite intelligence units of the Israeli Defense
Forces and began trading as a public company on Nasdaq on
March 1, 2023 under the ticker
"HUBC." HUB Security specializes in unique cybersecurity solutions
protecting sensitive commercial and government information and is a
recognized leader in the rapidly evolving field of zero-trust
confidential computing, an area of cybersecurity that provides
protection to data even when computers are infected, and
administrators are compromised. HUB Security's computing solutions
aim at preventing hostile intrusions at the hardware level while
introducing a novel set of data theft prevention solutions. The
Company operates in over 30 countries and provides innovative
cybersecurity computing appliances as well as a wide range of
cybersecurity services worldwide.
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, including
statements about the anticipated benefits of the transaction, and
the financial condition, results of operations, earnings outlook
and prospects of the combined company. 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, but the absence of
these words does not mean that a statement is not
forward-looking.
The forward-looking statements are based on the current
expectations of the management of HUB Security, as applicable, and
are inherently subject to uncertainties and changes in
circumstances and their potential effects and speak only as of the
date of such statement. There can be no assurance that future
developments will be those that have been anticipated. These
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, those discussed and identified in public
filings made with the SEC by HUB Security and the following: (i)
expectations regarding HUB Security's strategies and future
financial performance, including its future business plans or
objectives, prospective performance and opportunities and
competitors, revenues, products and services, pricing, operating
expenses, market trends, liquidity, cash flows and uses of cash,
capital expenditures, and HUB Security's ability to invest in
growth initiatives and pursue acquisition opportunities; (ii) the
outcome of any legal proceedings that may be instituted against HUB
Security; (iii) the ability to meet stock exchange continued
listing standards; (iv) the risk that the consummation of the
business combination disrupts HUB Security's current operations and
future plans; (v) the ability to recognize the anticipated benefits
of the business combination, which may be affected by, among other
things, competition, the ability of HUB Security to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; (vi) costs
related to the business combination; (vii) limited liquidity and
trading of HUB Security's securities; (viii) geopolitical risk,
including military action and related sanctions, and changes in
applicable laws or regulations; (ix) the possibility that HUB
Security may be adversely affected by other economic, business,
and/or competitive factors; (x) inaccuracies for any reason in the
estimates of expenses and profitability and projected financial
information for HUB Security; and (xi) other risks and
uncertainties set forth in the section entitled "Risk Factors" and
"Cautionary Note Regarding Forward-Looking Statements" in HUB
Security's final proxy statement/prospectus filed on December 5, 2022.
Should one or more of these risks or uncertainties materialize
or should any of the assumptions made by the management of HUB
Security prove incorrect, actual results may vary in material
respects from those expressed or implied in these forward-looking
statements.
All subsequent written and oral forward-looking statements
concerning matters addressed in this press release and attributable
to HUB Security or any person acting on their behalf are expressly
qualified in their entirety by the cautionary statements contained
or referred to in this press release. Except to the extent required
by applicable law or regulation, HUB Security undertakes no
obligation to update these forward-looking statements to reflect
events or circumstances after the date of this press release to
reflect the occurrence of unanticipated events.
Media contact
Gili Nizani on behalf of HUB Security
hubpr@hubsecurity.io
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SOURCE Hub Security