LNFA - Hub Security signs letter of intent to go public through a SPAC deal

February, 02 2022 12:51 PM L&F Acquisition Corp. Class A

Cybersecurity firm Hub Security Ltd. said it signed a letter of intent to go public through a deal with an undisclosed Nasdaq-listed SPAC. The SPAC holds over $150M in cash, and under the terms of LOI, the SPAC and HUB will jointly raise additional capital via a PIPE transaction, according to a statement. Upon completion of the deal, HUB shareholders' position in the new company will be between 75% and 90%. Tel Aviv-based Hub Security was established in 2017 by veterans of elite intelligence units of the Israeli Defense Forces. Hub, which specializes in protecting sensitive commercial and government information, operates in over 30 countries. Hub Security currently trades in Israel. In the event that the expected net-cash balance in the merged company may be less than $100M (following the possible redemption of trust funds in the SPAC and including the potential PIPE funds), HUB has the right to terminate the

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Hub Security signs letter of intent to go public through a SPAC deal

Company Name:	L&F Acquisition Corp. Class A
Stock Symbol:	LNFA
Market:	NYSE

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