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SuperCom Secures $6 Million in Direct Offering

SuperCom, a leading provider of secure solutions, announced on January 30, 2025, its latest move to bolster its financial position and expand its operations. The company has entered into securities purchase agreements with institutional investors for a direct offering of 545,454 ordinary shares priced at $11.00 each. This offering is set to generate approximately $6 million before deducting necessary fees and expenses associated with the placement.

Financial Details and Utilization of Proceeds

The offering is anticipated to close around January 31, 2025, pending the fulfillment of standard closing conditions. SuperCom plans to utilize the net proceeds from this offering strategically for working capital, research and development, potential acquisitions, as well as other general corporate purposes. These initiatives are expected to enhance the company's capabilities across its key sectors, which include e-Government, Internet of Things (IoT), and Cybersecurity.

Maxim Group LLC will act as the sole placement agent for this transaction, highlighting SuperCom’s commitment to securing reputable financial partnerships.

Securities Registration Process

The ordinary shares involved in this transaction are being offered through SuperCom's shelf registration statement on Form F-3, which was approved by the U.S. Securities and Exchange Commission (SEC) on January 21, 2025. Potential investors must note that the offering will be conducted solely through a prospectus supplement that is part of this registration statement.

It’s important to clarify that this notice does not represent an offer to sell nor a solicitation to buy these securities, and sales will not occur in any jurisdiction where such an offer would be deemed unlawful prior to the completion of registration or qualification under the relevant securities laws.

About SuperCom

Founded in 1988, SuperCom has carved a niche in providing both traditional and digital identity solutions while focusing on advanced safety, identification, and security mechanisms for both private and public sectors globally. The company has empowered governments with its e-Government platforms and its suite of innovative solutions, including traditional and biometric enrollment, border control services, and secure Multi-ID document issuance.

SuperCom’s product lineup also encompasses unique RFID mobile technology and a range of services tailored for various industries, including healthcare, law enforcement, and community safety. By capitalizing on technological advancements, SuperCom continuously endeavors to enhance the efficacy of its operations and offerings.

Conclusion

Overall, this $6 million registered direct offering represents a pivotal step for SuperCom as it seeks to not only fortify its financial standing but also to continue leading in the vital areas of e-Government and cybersecurity. Investors keen to explore this offering can obtain more details from the SEC's website and through direct contact with Maxim Group LLC. With a robust portfolio and proactive strategies, SuperCom stays aligned with its vision for sustainable growth and innovation.