SuperCom to sell 3 million ordinary shares via public offering Dec. 18

Deal funds possible acquisitions of contracts, intellectual property

By Aleesia Forni and Devika Patel

Virginia Beach, Dec. 9 - SuperCom Ltd. is planning to offer 3 million ordinary shares in a public sale on Dec. 18 for trading on Dec. 19, according to a market source and a Form F-1/A filed with the Securities and Exchange Commission. The deal was announced July 3 and will have a 15% greenshoe.

Proceeds will be used for possible acquisitions of contracts, for intellectual property and software packages, to develop a local presence in Europe and the Far East and for working capital needs and other general corporate purposes.

Based in Qadima, Israel, SuperCom develops tracking and identification technologies for public safety used by emergency medical personnel, governments and corporations.

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