The acquisition will empower HUB to extend its Private Computing featuring into data facilities organization with governments and organizations, estimated to generate hundreds of million pounds more than the course of the next 3 years
TEL AVIV, Israel, Might 31, 2022 /PRNewswire/ — HUB Cyber Security (Israel) Restricted (TASE: HUB), a developer of Private Computing cybersecurity remedies and services (“HUB” or the “Firm“), announced today that it will receive the cyber security property of a European Cyber organization that has an considerable EMEA distribution network of cyber alternatives for important authorities and enterprise information centers. The corporation will receive the action for approximately $10 million in cash and up to $12 million in shares.
HUB Security founder and CEO, Eyal Moshe, mentioned: “As we approach HUB’s SPAC merger with Mount Rainier wards a NASDAQ listing (NASDAQ:RNER), we are witnessing additional prosperous pilots from the past calendar year staying transformed into actual Confidential Computing deployments and extended-phrase contracts currently in 2022. This present-day acquisition is a direct continuation of our tactic to maximize our global income and distribution achieve to promote our main goods. The acquisition has the prospective to end result in transactions worthy of hundreds of thousands and thousands of bucks from enterprises and governments within the EU and the Center East. We are acquiring immediate access to a large selection of blue-chip clients around the environment, which can conserve the Company many years in in any other case penetrating entering these marketplaces organically.”
About HUB Cyber Security (Israel) Constrained
HUB Cyber Protection (Israel) Confined (“HUB”) was proven in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israeli Defense Forces. The business specializes in exceptional Cyber Safety remedies protecting sensitive business and govt info. The business debuted an superior encrypted computing alternative aimed at blocking hostile intrusions at the components degree though introducing a novel set of info theft avoidance methods. HUB operates in about 30 nations around the world and gives ground breaking cybersecurity computing appliances as very well as a vast selection of cybersecurity companies worldwide.
About Mount Rainier Acquisition Corp.
Mount Rainier Acquisition Corp. is a blank look at company sponsored by DC Rainier SPV LLC, a Delaware restricted legal responsibility firm managed by Dominion Capital LLC, whose business enterprise goal is to result a merger, share exchange, asset acquisition, stock purchase, reorganization or equivalent business blend with just one or extra firms.
Forward-On the lookout Statements
Specified statements incorporated in this push launch are not historical details but are forward-hunting statements for reasons of the harmless harbor provisions beneath the United States Non-public Securities Litigation Reform Act of 1995. Ahead-wanting statements commonly relate to long run situations or HUB’s or RNER’s upcoming financial or working general performance. In some circumstances, you can recognize ahead-on the lookout statements by terminology this kind of as “may”, “must”, “would”, “seem to be”, “hope”, “intend”, “will”, “estimate”, “foresee”, “feel”, “upcoming”, “forecast”, “likely,” “forecast” or “keep on”, or the negatives of these conditions or variants of them or equivalent terminology, but the absence of these terms does not mean that a assertion is not forward-on the lookout. These forward-looking statements are subject matter to hazards, uncertainties, and other factors that could lead to precise results to differ materially from all those expressed or implied by this sort of ahead hunting statements.
These ahead-on the lookout statements are based upon estimates and assumptions that, although regarded as fair by HUB and its administration, and RNER and its management, as the scenario may well be, are inherently unsure. These forward-looking statements are presented for illustrative reasons only and are not intended to provide as, and must not be relied on by any trader as, a assurance, an assurance, a prediction or a definitive assertion of reality or probability. Real situations and instances are tricky or not possible to forecast and may well vary from assumptions. Quite a few genuine functions and situation are past the management of HUB or RNER. Factors that may perhaps bring about real results to vary materially from current expectations consist of, but are not confined to: (i) anticipations with regards to HUB’s methods and foreseeable future fiscal functionality, such as its foreseeable future small business plans or objectives, potential functionality and prospects and competitors, revenues, products and providers, pricing, running charges, industry developments, liquidity, money flows and utilizes of income, funds expenditures, and HUB’s capacity to devote in progress initiatives and pursue acquisition prospects (ii) the occurrence of any function, transform or other situation that could give rise to the termination of negotiations and any subsequent definitive agreements with regard to the proposed transactions (iii) the final result of any legal proceedings that may be instituted in opposition to RNER, HUB, the Combined Organization or other people pursuing the announcement of the proposed transactions and any definitive agreements with respect thereto (iv) the incapability to complete the proposed transactions due to, amid other factors, the failure to obtain acceptance of the stockholders of RNER or HUB, to acquire specific governmental and regulatory approvals or to satisfy other circumstances to closing, together with delays in acquiring, adverse circumstances contained in, or the inability to acquire vital regulatory approvals or complete regulatory critiques needed to entire the proposed transactions (v) the lack of ability to attain the funding important to consummate the proposed transactions (vi) modifications to the proposed structure of the proposed transactions that could be essential or appropriate as a final result of applicable legislation or restrictions or as a ailment to getting regulatory acceptance of the proposed transactions (vii) the capacity to satisfy stock exchange listing criteria pursuing the consummation of the proposed transactions (viii) the chance that the announcement and consummation of the proposed transactions disrupts HUB’s present strategies and operations (ix) the absence of a third party valuation in analyzing no matter if or not to pursue the proposed transactions (x) the skill to identify the anticipated gains of the proposed transactions, which might be impacted by, amongst other factors, competitors, the skill of the Merged Business to mature and control advancement profitably, keep associations with consumers and suppliers and keep its management and essential personnel (xi) charges related to the proposed transactions (xii) the quantity of any redemptions by present holders of RNER’s widespread inventory currently being greater than expected (xiii) restricted liquidity and buying and selling of RNER’s and HUB’s securities (xiv) geopolitical risk, including army action and associated sanctions, and changes in applicable guidelines or restrictions (xv) geopolitical risk, which include armed forces motion and linked sanctions, and variations in applicable legal guidelines or restrictions (xvi) the risk that RNER, HUB or the Blended Business may well be adversely afflicted by other economic, company, and/or competitive aspects (xvii) inaccuracies for any cause in the estimates of bills and profitability and projected economical data for HUB and (xviii) other hazards and uncertainties set forth in the section entitled “Possibility Things” and “Cautionary Observe Regarding Forward-Wanting Statements” in RNER’s closing prospectus relating to its first general public presenting dated Oct 4, 2021.
Ahead-looking statements speak only as of the date they are produced. Practically nothing in this press launch should really be regarded as a representation by any human being that the forward-searching statements set forth herein will be obtained or that any of the contemplated effects of such ahead-hunting statements will be achieved. You need to not place undue reliance on forward-looking statements, which converse only as of the day they are created. Neither HUB nor RNER undertakes any responsibility to update these forward-seeking statements.
Additional Details About the Transaction and Exactly where to Obtain It
In relationship with the proposed transaction, HUB intends to file with the SEC a registration assertion on Variety F-4 that contains a proxy statement/prospectus, and just after the registration statement is declared productive by the SEC, RNER will mail a definitive proxy assertion/prospectus relating to the Proposed Business Mixture to its stockholders. This press release does not have all the facts that need to be considered regarding the proposed transaction and is not meant to sort the foundation of any investment decision final decision or any other conclusion in regard of the proposed transaction. This push release is not a substitute for any registration statement or for any other doc that HUB or RNER may file with the SEC in connection with the proposed transaction. Traders and safety holders are suggested to read, when readily available, the preliminary proxy assertion/prospectus and the amendments thereto and the definitive proxy assertion/prospectus and other paperwork filed in link with the proposed transaction, as these materials will contain crucial information about HUB, RNER and the proposed transaction.
When available, the definitive proxy assertion/prospectus and other suitable products for the proposed transaction will be mailed to stockholders of RNER as of a file date to be set up for voting on the proposed transaction. Stockholders will also be in a position to acquire copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other files submitted with the SEC, with out cost, once out there, by the web site preserved by the SEC at www.sec.gov.
Investors AND Security HOLDERS ARE URGED TO Go through THE Documents Filed WITH THE SEC Cautiously AND IN THEIR ENTIRETY WHEN THEY Grow to be Offered Due to the fact THEY WILL Incorporate Crucial Facts.
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