SuperCom (SPCB) Prices 545.45K Share Offering at $11/sh

SuperCom (NASDAQ: SPCB) 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 [email protected] or telephone at (212) 895-3745.

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