HUB Cyber Security Ltd. (NASDAQ:HUBC) ("HUB" or the "Company"), today announced that it has acquired certain senior subordinated convertible notes and purchase rights of Evofem Biosciences, Inc. (OTC:EVFM) ("Evofem"), funded entirely with HUB equity at no cash cost to the Company. The transaction is the latest step in a broader transformation plan to strengthen HUB’s financial position, streamline operations, enhance governance and build long-term shareholder value.
The notes and purchase rights were acquired directly from certain Evofem noteholders in exchange solely for HUB equity securities, consisting of ordinary shares and/or pre-funded warrants. By structuring the deal entirely in equity, HUB preserves its cash position while investing in a strategic business that the Company’s Board of Directors (the "Board") believes supports its broader repositioning and long-term value-creation efforts.