TEL
AVIV, Israel, Jan. 30,
2025 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a
global provider of secured solutions for the e-Government, IoT, and
Cybersecurity sectors, announced today that it has entered into
securities purchase agreements with certain institutional investors
to purchase 545,454 ordinary shares in a registered direct offering
at a purchase price of $11.00 per
ordinary share.
The gross proceeds to SuperCom from the offering are estimated
to be approximately $6.0 million
before deducting the placement agent's fees and other estimated
offering expenses. The offering is expected to close on or about
January 31, 2025, subject to the
satisfaction of customary closing conditions. SuperCom intends to
use net proceeds from this offering for working capital, research
and development, potential acquisitions and other general corporate
purposes.
Maxim Group LLC is acting as the sole placement agent in
connection with the offering.
The ordinary shares are being offered pursuant to SuperCom's
shelf registration statement on Form F-3 (File No. 333-284219),
which was declared effective by the U.S. Securities and Exchange
Commission (the "SEC") on January 21,
2025. The offering will be made only by means of a
prospectus supplement that forms a part of such registration
statement.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. A
prospectus supplement relating to the offering will be filed by
SuperCom with the SEC. When available, copies of the prospectus
supplement, together with the accompanying prospectus, can be
obtained at the SEC's website at www.sec.gov or from Maxim Group
LLC, 300 Park Avenue, New York, NY
10022, Attention: Syndicate Department, or via email at
syndicate@maximgrp.com or telephone at (212) 895-3745.
About SuperCom
Since 1988, SuperCom has been a global provider of traditional
and digital identity solutions, providing advanced safety,
identification, and security solutions to governments and
organizations, both private and public, worldwide. Through its
proprietary e-Government platforms and innovative solutions for
traditional and biometrics enrollment, personalization, issuance,
and border control services, SuperCom has inspired governments and
national agencies to design and issue secure Multi-ID documents and
robust digital identity solutions to its citizens and visitors.
SuperCom offers a unique all-in-one field-proven RFID & mobile
technology and product suite, accompanied by advanced complementary
services for various industries, including healthcare and homecare,
security and safety, community public safety, law enforcement,
electronic monitoring, and domestic violence prevention. For more
information, please visit SuperCom's website: www.supercom.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements preceded or followed by or that otherwise
include the words "believes", "expects", "anticipates", "intends",
"projects", "estimates", "plans", and similar expressions or future
or conditional verbs such as "will", "should", "would", "may" and
"could" are generally forward-looking in nature and not historical
or current facts. These forward-looking statements are subject to
risks and uncertainties that could cause our actual results to
differ materially from the statements made. Examples of these
statements include, but are not limited to, statements regarding
business and economic trends, the levels of consumer, business and
economic confidence generally, the adverse effects of these risks
on our business or the market price of our ordinary shares, and
other risks and uncertainties described in the forward looking
statements and in the section captioned "Risk Factors" in Amendment
No. 1 to our Annual Report on Form 20-F/A for the year ended
December 31, 2023, filed with the
U.S. Securities and Exchange Commission (the "SEC") on August 14, 2024, our reports on Form 6-K filed
from time to time with the SEC and our other filings with the SEC.
Except as required by law, we not undertake any obligation to
update or revise these forward-looking statements, whether as a
result of new information, future events or otherwise, after the
date of this press release.
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SuperCom Investor Relations: ir@supercom.com
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SOURCE SuperCom
