SuperCom Ltd. (NASDAQ: SPCB), a global provider of secure solutions for the e-Government, IoT and cybersecurity sectors, announced that it has entered into a securities purchase agreement with a single institutional investor to purchase approximately $2.9 million of ordinary shares (or pre-funded warrants in lieu thereof) in a registered direct offering and warrants to purchase ordinary shares in a concurrent private placement. According to the announcement, the combined effective purchase price for one ordinary share (or pre-funded warrant in lieu thereof) and a warrant to purchase one ordinary share will be $0.36. Under the terms of the securities purchase agreement, SuperCom has agreed to sell 8,116,155 ordinary shares (or pre-funded warrants in lieu thereof). Additionally, SuperCom has agreed to issue warrants to purchase up to an aggregate of 8,116,155 ordinary shares in a concurrent private placement. The warrants will be immediately exercisable upon issuance, will expire five years from the date of issuance, and will have an exercise price of $0.38 per ordinary share. The offering is expected to close on or about April 19, 2024, subject to the satisfaction of customary closing conditions.
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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, throughout the world. 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, and electronic monitoring. For more information about the company, visit www.SuperCom.com.
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