SuperCom sells 0.73M shares to institutional investors, securing $7.5M in gross proceeds for operations or growth.
SuperCom (NASDAQ: SPCB) announced a registered direct offering of 0.73M ordinary shares at $10.25 per share, raising approximately $7.5M in gross proceeds. The shares were sold to institutional investors, as disclosed by the company on Monday.
The offering price reflects a structured deal aimed at bolstering liquidity. No prior consensus or comparable offering was provided, though the company indicated proceeds may support ongoing operations or strategic initiatives.
Market reaction details were not immediately disclosed, and trading activity in SPCB shares remained limited following the announcement.