By Chris Wack
SuperCom shares were up 20% to $15.90 after the company said it issued 100,000 shares at $43.74 a share to pay down $4.37 million of outstanding debt.
Shares of the technology company hit their 52-week high of $18.30 early in the session, and are up 232% in the past 12 months.
This issuance and debt paydown were part of an amendment that SuperCom executed with its senior lender, a large national investment management firm.
The Tel Aviv company said this amendment includes a broader set of favorable modifications designed to improve its financial flexibility and support its strategic growth objectives.
SuperCom also secured an extension of the maturity date of the lender's debt to Dec. 31, 2028.
This debt paydown completes a 32% reduction of SuperCom's total outstanding debt in the past year.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 23, 2025 09:45 ET (14:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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