NEW YORK-Smart-card company SuperCom Ltd. said it has raised $3.5 million in new private equity financing.
The company said it placed more than 4 million ordinary shares with institutional and private investors at 85 cents per share. SuperCom also is working on obtaining approval to trade on the OTCBB.
“The newly acquired financing will be used to support large-scale implementation of new projects that SuperCom is about to undertake for its customers. In turn, this will improve our capabilities to take on additional client projects,” said Eyal Tuchman, chief financial officer of SuperCom.
