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SOURCE SuperCom Ltd
HERZLIYA, Israel, July 16, 2014 /PRNewswire/ --
SuperCom Ltd (NASDAQ: SPCB), a leading provider of Electronic Intelligence Solutions for National ID, Public Safety and HealthCare, announced today that it has filed a universal shelf registration statement on Form F-3 with the US Securities and Exchange Commission (SEC). The registration statement is subject to review by the SEC.
When declared effective by the SEC, the shelf registration will allow the Company the flexibility, from time to time, to offer and sell up to $50 million of equity, debt or other types of securities described in the registration statement, or any combination of such securities. There are no specific plans to offer securities under the shelf registration at this time. The terms of any future offering would be determined at the time of the offering and would be subject to market conditions and approval by the Company's Board of Directors. Any offering of securities covered by the shelf registration statement will be made only by means of a prospectus supplement authorized and filed by the Company.
The registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Commented Arie Trabelsi, CEO of SuperCom: "We have no immediate need to raise capital. However, once approved, this shelf prospectus provides us with an excellent vehicle to raise capital and fund an accretive acquisition should a potential acquisition opportunity materialize. In addition, it will provide us with the opportunity to increase working capital as necessary, to enable us to support the large contracts that exist in our pipeline of proposals and bids, if and when awarded to us."
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's 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.
Investor Relations Contacts:
Ehud Helft & Kenny Green
GK Investor Relations
Ordan Trabelsi, President North America
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