HUB Security Reports Discussions To Extend Maturity Date Of $4M Principal Note, Originally Due In August 2024
Portfolio Pulse from Benzinga Newsdesk
HUB Security is in discussions to extend the maturity date of a $4M principal note originally due in August 2024. The company also completed a $3.3M private placement from non-U.S. investors in the form of convertible notes with a conversion price of $0.70 per share, along with warrants at an exercise price of $1.00 per share.
August 19, 2024 | 11:13 am
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POSITIVE IMPACT
HUB Security is negotiating to extend the maturity date of a $4M note due in August 2024 and has completed a $3.3M private placement with convertible notes and warrants.
The extension of the maturity date for the $4M note could provide HUB Security with more financial flexibility, which is generally positive. Additionally, the completion of a $3.3M private placement indicates investor confidence and provides the company with additional capital.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100