Key Highlights

  • HUB Cyber Security (NASDAQ:HUBC) was quoted 12% lower at USD 0.0836 in premarket trading on November 5, 2026, a very thin, low-priced quote.
  • A 1-for-25 reverse split became effective on September 11, 2026, cutting shares from 44,895,531 to 1,795,821.
  • An earlier 1-for-20 reverse split took effect on June 5, 2026, reducing shares from 66,603,152 to 3,330,157.
  • A February 17, 2026 term sheet proposed issuing USD 125 million of Equity for the Tivani minerals project, subject to definitive agreements.

Second Reverse Split in Four Months

HUB Cyber Security (NASDAQ:HUBC) announced on September 10, 2026 a 1-for-25 reverse share split, effective at 11:59 p.m. ET on September 11, 2026, with split-adjusted trading beginning on September 14, 2026 under the same symbol and a new CUSIP. Shares outstanding fell from 44,895,531 to 1,795,821. The company said the move should lift the per-share price and help it maintain compliance with the minimum bid price requirement in Nasdaq Listing Rule 5450(a)(1). In premarket trading on November 5, 2026, per the premarket quote, the shares were quoted 12% lower at USD 0.0836. That quote sits far below USD 1.00 and looks inconsistent with a recent consolidation, so the figure should be treated with caution.

How the Share Count Keeps Growing

A reverse split combines existing shares into fewer ones, lifting the price in proportion without changing the value of the company. It cannot fix the cause of a falling price. HUB had already completed a 1-for-20 split effective June 5, 2026, which reduced shares from 66,603,152 to 3,330,157. Yet the pre-split count in September stood at 44,895,531, implying that tens of millions of new shares were issued between the two splits. Dilution of that scale usually reflects financing, such as private placements, and each new issuance reduces existing holders' stake. The company has also pursued a strategic reshaping: on February 17, 2026 it signed a term sheet to acquire Ferrox Critical Minerals, owner of the Tivani magnetite and ilmenite project in South Africa, for USD 125 million of HUB equity issued in four stages. The term sheet is not a binding agreement, and no assurance was given that definitive agreements would be signed. On March 31, 2026 HUB announced that Noah Hershcoviz had resigned as Chief Executive Officer and director.

Risks and What to Watch Next

HUB Cyber Security (NASDAQ:HUBC) is a nano-cap with a small share count, and that shapes the risk. A small number of trades can move the price, spreads can be wide and quoted moves can reverse, so the premarket decline is not a settled price and does not imply the move will continue. Further dilution, repeated listing deficiency notices and execution on its Trust Rails platform and the proposed minerals asset are the main uncertainties. Investors should watch for new filings on financing, any notice from Nasdaq, definitive terms on the Ferrox transaction and the next interim results. Details of recent trading volumes and of any new shares issued after September were not verified here.

Where Things Stand

HUB Cyber Security (NASDAQ:HUBC) slipped 12% premarket most plausibly because repeated dilution and listing pressure weigh on a very small share base. Two reverse splits within four months, in June and September 2026, lifted the quoted price mechanically, yet the share count grew by tens of millions between them. The proposed USD 125 million equity-funded minerals deal remains a term sheet, and the chief executive resigned on March 31, 2026. The balance of evidence points to elevated risk, not a verdict on the business. Watch Nasdaq compliance, new financings and definitive Ferrox terms.