TEL
AVIV, Israel, Aug. 2, 2023
/PRNewswire/ -- SuperCom (NASDAQ: SPCB) ("SuperCom" or the
"Company"), a global provider of secured solutions for the
e-Government, IoT and Cybersecurity sectors, today
announced the pricing of its public offering of 3,235,295
units at a public offering price of $0.85 per unit with a single institutional
investor. Each unit consists of one ordinary share (or a prefunded
warrant in lieu thereof) and one warrant to purchase one ordinary
share. The common warrants will be immediately exercisable at
an exercise price of $0.85 per share
and will expire five years from the date of issuance. The ordinary
shares (or pre-funded warrants in lieu thereof) and accompanying
warrants can only be purchased together in this public offering,
but will be issued separately and will be immediately separable
upon issuance.
Gross proceeds to the Company, before deducting placement agent
fees and other offering expenses, are expected to be
approximately $2.75 million. The offering is expected to close
on August 3, 2023, subject to the satisfaction of customary
closing conditions.
Maxim Group LLC is acting as sole placement agent in
connection with this public offering.
The Company has also agreed that certain existing warrants to
purchase up to a total of 2,082,484 ordinary shares of the Company
that were issued to such institutional investor on July 25, 2022 and March
31, 2023, will be amended effective upon the closing of the
public offering so that the amended warrants will have an exercise
price of $0.85 and will expire five
years from the date of the closing of this offering.
The securities described above (other than the amended warrants)
are being offered pursuant to a Registration Statement on Form F-1,
as amended (File No. 333-273291) (the "Registration Statement"),
previously filed with and subsequently declared effective by
the U.S. Securities and Exchange Commission (the "SEC")
on August 2, 2023. The public offering is being made
only by means of a prospectus which is a part of the Registration
Statement. A preliminary prospectus relating to the public
offering has been filed with the SEC. Copies of the
final prospectus relating to the public offering, when available,
will be filed with the SEC and will be available on the
SEC's website at http://www.sec.gov. Copies of the final
prospectus relating to this public offering, when available, may be
obtained from Maxim Group LLC, 300 Park Avenue, 16th
Floor, New York, NY 10022, at (212) 895-3745.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
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, electronic monitoring,
livestock monitoring, and building and access automation. 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 our
Annual Report on Form 20-F for the year ended December 31, 2022, filed with the U.S. Securities
and Exchange Commission (the "SEC") on April
20, 2023, 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