SuperCom Announces Pricing of $6.0 Million Registered Direct Offering

Core Viewpoint - SuperCom has entered into securities purchase agreements to sell 545,454 ordinary shares at a price of $11.00 per share, aiming to raise approximately $6.0 million for various corporate purposes [1][2]. Group 1: Offering Details - The gross proceeds from the offering are estimated to be around $6.0 million before deducting fees and expenses [2]. - The offering is expected to close on or about January 31, 2025, pending customary closing conditions [2]. - Maxim Group LLC is acting as the sole placement agent for this offering [3]. Group 2: Use of Proceeds - SuperCom plans to utilize the net proceeds for working capital, research and development, potential acquisitions, and other general corporate purposes [2]. Group 3: Company Background - SuperCom has been a global provider of identity solutions since 1988, offering advanced safety, identification, and security solutions to governments and organizations worldwide [5]. - The company specializes in e-Government platforms and biometric solutions, aiming to enhance secure identification and document issuance [5].