Following the announcement of 100,000 ordinary shares at $43.74 per share, a notable premium to its previous closing price, to settle $4.37 million of outstanding debt, SuperCom (SPCB, Financials) shares rose 27.11% to $16.83 in mid-morning trading on Thursday.
The issuing is a part of an amendment intended to improve financial flexibility with a national investment management company serving as the senior lender. With interest accumulating and paid alongside the principle at maturity, the amendment extends the loan maturity date to Dec. 31, 2028, and removes monthly cash interest and amortization payments.
SuperCom said these adjustments would boost free cash flow to support its expansion plans over the next four years. Over the last year, the corporation has reduced its overall debt by thirty-two percent.
President and CEO Ordan Trabelsi said the modification demonstrates the confidence developed with the lender and improves the company's capacity to pursue worldwide growth and high-return prospects.
Since mid-2024 SuperCom has entered six additional U.S. states and secured more than 15 national projects in Europe.
This article first appeared on GuruFocus.免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。