HUB Security announces $18 million framework agreement to provide covert computing hardware solutions

Tel Aviv, IsraelAnd May 22 2022 /PRNewswire/- Cyber ​​Security HUB (Israel) Limited (TASE: HUB), A Tel Aviv A developer of cybersecurity solutions and services for covert computing (“HUB” or “the Company”), has announced that it has signed a long-term framework agreement with a leading European company to provide covert computer solutions that are expected to reach $18 million In frequent devices and services, including approx $3.6 million Expected revenue already in 2022.

HUB Security Logo

HUB Security Logo

As CEO of Hub Security Eyal Moshe He notes that “our secret computing solution has been on numerous pilot projects with leading companies and governments around the world for over a year. We are now gaining momentum in turning these pilots into physical transactions.” He added that he expected “to be next $1.28 billion SPAC’s merger with Mount Rainier Acquisition Corp will improve our access to the US market and other markets, which may increase our sales. Our products are unique in the market and allow the customer to operate in the system even during a cyber attack.”

HUB Security was founded in 2017 by veterans of Intelligence Units 8200 and 81, including Eyal Moshe, who is the CEO of the company. A few weeks ago, the company signed a binding agreement with Nasdaq-traded Mount Rainier Acquisition Corp (RNER), for a merger expected to take place this year. .

The Hub Security platform is designed and built in Israel It provides military-grade security to organizations. The company specializes in protecting sensitive corporate business information and has developed an advanced cryptographic computing solution aimed at preventing hostile intrusions into organizations. In addition to cybersecurity solutions for artificial intelligence, data, financial technology, and edge computing, HUB Security offers professional services including integration, pen tests, red team services, DDoS simulation atacks, and more.

About HUB Cyber ​​SecurityIsrael) Limited

HUB cyber securityIsraelLtd. (“HUB”) was founded in 2017 by veterans of the 8,200 and 81 elite intelligence units of the IDF. The company specializes in unique cybersecurity solutions that protect sensitive business and government information. The company has introduced an advanced cryptographic computing solution aimed at preventing malicious breaches at the hardware level while introducing a new suite of data theft prevention solutions. HUB operates in more than 30 countries and provides cybersecurity computing devices as well as a wide range of cybersecurity services worldwide.

About Mount Rainier Acquisition Corp.

Mount Rainier Acquisition Corp. is a blank check company sponsored by DC Rainier SPV LLC, a Delaware A limited liability company operated by Dominion Capital LLC, whose business purpose is to achieve a merger, stock exchange, acquisition of assets, stock purchase, reorganization, or similar business combination with one or more corporations.

forward-looking statements

Certain statements in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or future financial or operating performance of HUB or RNER. In some cases, you may identify forward-looking statements by terms such as “may,” “should,” “will,” “seem,” “expect,” “intend,” “will,” “estimate,” “expect” or “believe.” “future,” “expect,” “potential,” “anticipate,” “continue,” or the cons, or variations thereof, or similar terms, but the absence of these words does not mean that the statement is not forward-looking. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements.

These forward-looking statements are based on estimates and assumptions, although these are considered reasonable by HUB and its management, and RNER and its management, as the case may be, are inherently uncertain. These forward-looking statements are provided for illustrative purposes only and are not intended as a guarantee, confirmation, expectation, final statement or possibility, and should not be relied upon by any investor. Actual events and conditions are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of HUB or RNER. Factors that could cause actual results to differ materially from current expectations include, but are not limited to: (i) expectations regarding HUB’s strategies and future financial performance, including future business plans or objectives, potential performance, opportunities and competitors, revenue, products, services and pricing operating expenses, market trends, liquidity, cash flow, cash usage, capital expenditures and HUB’s ability to invest in growth initiatives and pursue acquisition opportunities; (ii) the occurrence of any event, change or other circumstances that could result in the termination of negotiations and any subsequent definitive agreements with respect to the proposed Transactions; (iii) as a result of any legal action which may be brought against RNER, HUB, the combined company or others after the proposed Transactions and any definitive agreements relating thereto have been announced; (iv) Inability to complete the proposed Transactions due to, among other things, failure to obtain shareholder approval of the RNER or HUB, obtain certain governmental and regulatory approvals or meet other closing conditions, including delays in obtaining, the adverse circumstances contained In, or the inability to obtain the necessary regulatory approvals or full regulatory reviews required to complete the proposed transactions; (5) Inability to obtain the necessary financing to complete the proposed transactions. (vi) changes in the proposed structure of the proposed transactions that may be required or appropriate as a result of applicable laws or regulations or as a condition of obtaining regulatory approval for the proposed transactions; (7) The ability to meet the listing criteria on the stock exchange after the completion of the proposed transactions. (8) the risk that the announcement and completion of proposed transactions could disrupt the Centre’s existing plans and operations; (ix) the absence of a third party evaluation in determining whether or not the proposed transactions should be pursued; (x) the ability to recognize the expected benefits of proposed transactions, which may be affected, among other things, by competition, the joint company’s ability to grow and manage growth profitably, to maintain relationships with customers and suppliers and to retain its management and key personnel; (11) Costs related to the proposed transactions. (12) that the value of any redemptions by holders of common stock of RNER is greater than expected; (13) Limited liquidity and stock trading of RNER and HUB; (14) geopolitical risks, including military action and related sanctions, and changes in applicable laws or regulations; (15) geopolitical risks, including military action and related sanctions and changes in applicable laws or regulations; (16) the possibility that RNER, HUB or the joint venture will be adversely affected by other economic, commercial and/or competitive factors; (17) Inaccuracy for any reason in the estimates of expenditures, profitability and expected financial information for the hub; and (18) other risks and uncertainties described in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in RNER’s final prospectus relating to its initial public offering dated October 4, 2021.

Forward-looking statements speak only as of the date they are made. Nothing in this press release should be taken as an endorsement by any person that the forward-looking statements made in this document will be realized or that any of the envisaged results of such forward-looking statements will be achieved. You should not rely excessively on forward-looking statements, which speak only as of the date they are made. Neither HUB nor RNER takes any duty to update these forward-looking statements.

Additional information about the deal and where to find it

In connection with the proposed transaction, HUB intends to file a registration statement with the Securities and Exchange Commission on Form F-4 containing a proxy statement/prospectus, and after the SEC declares the registration statement to be effective, RNER will mail a statement/prospectus relating to the proposed business combination to its shareholders. This press release does not contain all information that should be considered in connection with the proposed transaction and is not intended to form the basis of any investment or other decision with respect to the proposed transaction. This press release is not a substitute for any registration statement or other document that HUB or RNER may submit to the SEC in connection with a proposed transaction. Investors and holders of securities are advised to read the preliminary proxy statement/prospectus and amendments thereto, final power of attorney statement/prospectus and other documents filed in connection with the proposed transaction, when available, as these materials will contain important information about the position, the RNER and the proposed transaction.

When available, the final proxy statement/prospectus and other relevant materials for the proposed transaction will be mailed to RNER shareholders as of a standard date to be set for voting on the proposed transaction. Shareholders will also be able to obtain copies of the initial proxy statement/prospectus, final proxy statement/prospectus and other documents filed with the SEC, free of charge, as soon as they become available, through the website maintained by the SEC at www.sec.gov.

Investors and security holders are urged to read carefully the documents filed with the SEC and in their collection as they become available as they will contain important information.

Cision

Cision

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SOURCE HUB Security