SPCB SuperCom Ltd

On March 1, 2022 (the “Closing Date”), SuperCom Ltd. (the “Company”) completed its previously announced registered direct offering with a single accredited institutional investor (the “Purchaser”) of an aggregate of 3,130,000 of its ordinary shares, par value NIS 0.25 per share (the “ordinary shares”), and 4,401,585 pre-funded warrants to purchase ordinary shares with an exercise price of $0.00001 per share, and concurrent private placement to the Purchaser of the Company’s private warrants to purchase an aggregate of 5,648,689 or ordinary shares at an exercise price of $0.70 per share. The private warrants will be exercisable beginning on the six-month anniversary of the Closing Date and will expire five years and six months following the Closing Date. These offerings were effected pursuant to the Securities Purchase Agreement, dated as of February 25, 2022 (the “Purchase Agreement”), with a single accredited institutional investor. Please refer to the Company’s Report on Form 6-K filed on February 28, 2022 for a summary of the offerings, the material terms of the Stock Purchase Agreement and the other agreements entered into in connection therewith.