RNER - Israel's HUB Cyber Security shares to begin trading on Nasdaq Wednesday

Israel's HUB Cyber Security (HUBC) has merged with SPAC Mount Rainier Acquisition Corp. ( NASDAQ: RNER ), with shares of the combined company expected to begin trading on Nasdaq Wednesday.

Shares of Mount Rainier were up 12% at $5.66 on Tuesday at approximately 12:20 p.m. ET. The SPAC is sponsored by affiliates of Dominion Capital.

HUB is transferring its shares from the Tel Aviv Stock Exchange . The US shares will trade on Nasdaq under the symbol HUBC. HUB management is scheduled to ring the opening bell at Nasdaq on Wednesday to celebrate the new listing.

Based in Tel Aviv, HUB is a provider of cybersecurity solutions and services. The company's clients include the Pentagon, Lockheed Martin, NASA and Visa. HUB said it expects to report 2022 EBIDTA of $10.9M on revenue of $115M.

HUB and Mount Rainier announced plans to merge in March 2022, with the deal valuing the combined company at around $1.2B.

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