07:33 AM EST, 12/23/2024 (MT Newswires) -- Hub Cyber Security ( HUBC ) said Monday it restructured $7 million of its secured debt with United Mizrahi Tefahot Bank under a settlement agreement signed last week.

The company said the agreement defers payments until June 2025, aligning with its expected free cash flow generation.

It added that the restructuring covered more than 60% of its secured debt through its subsidiary, Comsec.

Additionally, Hub Cyber Security ( HUBC ) said it is in advanced negotiations to refinance the remainder of its secured debt, with completion anticipated in Q1 2025.