SPCB - Why SuperCom (SPCB) Shares Are Nosediving | Benzinga

SuperCom Ltd. Ordinary Shares (NASDAQ:SPCB) shares are trading lower by 29.4% to $0.25 during Thursday’s session after the company announced it entered into an agreement with an institutional investor for a registered direct offering of approximately $2.9 million worth of its ordinary shares.

The deal also includes warrants to purchase ordinary shares in a private placement. The purchase price for one ordinary share and a warrant is set at $0.36. The agreement involves the sale of 8,116,155 ordinary shares (or pre-funded warrants) and issuance of warrants to purchase the same number of shares.

The warrants, with an exercise price of $0.38 per share, will expire five years from the date of issuance and are immediately exercisable.

Maxim Group LLC is facilitating the offering ...

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