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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