SuperCom Announces Proposed Public Offering of Common Stock
HERZLIYA, Israel, July 5, 2013 /PRNewswire/ --
SuperCom Ltd (formerly Vuance) (OTCQB: SPCBF), a leading global provider of traditional and digital identity solutions, advanced safety, identification, tracking and security products and solutions to governments, private and public organizations around the world, announced today that it has filed a registration statement on Form F-1 with the Securities and Exchange Commission ("SEC"). Under the registration statement, once declared effective by the SEC, SuperCom plans to offer, subject to market and other conditions in a public offering, up to $20 million of its ordinary shares.
As stated in the registration statement; SuperCom intends to use the proceeds from the sale of the securities to (i) fund the possible acquisition of contracts, selected complimentary intellectual property, and software packages from key players in the e-ID and electronic monitoring markets; (ii) develop a local presence in Europe and the Far East; and (iii) for working capital needs and other general corporate purposes.
The specifics of any future offering, along with the prices, terms, and the use of proceeds of any such securities offered by SuperCom, is described in detail in a prospectus supplement filed at the time of any such offering.
Supercom's registration statement has been filed with the SEC but has not yet become effective. The securities registered may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective..
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF ANY OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF, THE SECURITIES DESCRIBED HEREIN IN ANY STATE OR JURISDICTION IN WHICH SUCH AN OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF SUCH STATE OR JURISDICTION.
THIS ANNOUNCEMENT IS BEING ISSUED PURSUANT TO AND IN ACCORDANCE WITH RULE 134 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
Since 1988, SuperCom has been a leading global provider of traditional and digital identity solutions, providing advanced safety, identification and security solutions to governments and organizations, both private and public, throughout the world. Through its proprietary e-Government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance and border control services, SuperCom has inspired governments and national agencies to design and issue secured Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers a unique all-in-one field-proven RFID & mobile technology and product suite, accompanied by advanced complementary services for various industries including healthcare and homecare, security and safety, community public safety, law enforcement, electronic monitoring, livestock monitoring, and building and access automation.
SuperCom website is http://www.supercom.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded or followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in the Company's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by the Company. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements arising from the annual audit by management and the Company's independent auditors. The Company undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.
Corporate Relations Contacts:
Investor Relations Contacts:
Ehud Helft & Kenny Green
CCG Investor Relations
SOURCE SuperCom Ltd