- Israel-based electronic monitoring (“EM”) tech developer SuperCom recently completed a registered direct offering designed to bring in an additional $6 million for working capital, research and development and potential acquisitions
- The company develops EM technology and provides accompanying services that work synchronously to sustain public safety through the electronic monitoring of suspects and convicted offenders as an alternative to incarceration
- SuperCom’s PureSecurity Suite of solutions is anchored by its PureOne tracking bracelet, which can be worn discreetly while providing data via GPS, cellular, Wi-Fi, and Bluetooth technologies for monitoring a court-supervised individual’s movements
- The use of EM solutions for allowing select individuals to remain free from jail or prison custody is being hailed worldwide as a cost-cutting measure that helps to reduce repeat offenses while providing peace of mind to potential victims and communities at large
Electronic monitoring (“EM”) technology developer SuperCom (NASDAQ: SPCB) is working to further strengthen its financial position through a registered direct offering for about $6 million through securities purchase agreements with certain institutional investors.
SuperCom has been increasing its presence in the public safety technology sector in North America and Europe with new client contracts for its tracking solutions at a record pace over the past few months (https://ibn.fm/hSJ3o).
The company’s recent offering involved the purchase of 545,454 ordinary shares and is designed to boost working capital, research and development, potential acquisitions and other general corporate purposes (https://ibn.fm/7atIl).
SuperCom is a provider of technology and related services that assist governments and judicial systems with identification and security issues. Its primary focus is on using its advanced PureSecurity Suite EM solutions to help sustain protective orders in domestic violence cases.
The use of electronic monitoring for public safety in supervised release situations is gaining widespread attention on a global basis. The opportunity to reduce jail and prison populations to the most necessary incarcerations while allowing lower-risk offenders to remain active in their normal work and school environments has also become popular for its cost savings potential, since EM tracking generally costs a fraction of incarceration.
SuperCom is establishing itself as a leader in the sector, signing 20 new contracts since last summer and establishing a presence in six U.S. states where the company’s products hadn’t been used before, including seven contracts with South Dakota sheriff’s agencies (https://ibn.fm/PcG9w) and a number of new contracts in Europe (https://ibn.fm/jU203).
SuperCom’s PureSecurity Suite is anchored by its PureOne branded tracking bracelet and its accompanying PureShield mobile app alert technology. Further complementary elements round out the suite’s monitoring capabilities for a variety of needs.
PureOne and PureShield work together to discreetly monitor the location of a legally supervised domestic violence offender as well as the location of any potential victims, alerting both law enforcement and a potential victim if location zoning boundaries are breached at any time.
The suite’s monitoring prowess derives from GPS, cellular, Wi-Fi, and Bluetooth technologies but goes beyond simple geolocation on a map. SuperCom’s EM technology has the capability of showing a monitored subject’s elevation, creating a situational, three-dimensional monitoring environment that may prove handy if a person is being tracked inside a multi-story office or residential building.
The long battery life and discreet profile of the PureOne bracelet allow a monitored individual to move freely without significant fear of being stigmatized by colleagues. Such EM efforts are being praised for their potential to reduce recidivism by prior offenders.
SuperCom’s most recent financial report, filed in November and covering the first nine months of 2024, showed a “significant” increase in Q3 revenue at the time to $21.3 million, as well as a “dramatic” YOY improvement in gross profit margin to 50.1% from 30.7% (https://ibn.fm/xQt8c).
“SuperCom’s solutions are setting a new standard in the electronic monitoring industry,” SuperCom President and CEO Ordan Trabelsi stated last month (https://ibn.fm/P7ncn). “By displacing incumbent players time after time, we are better positioned to meet the growing demand for scalable and impactful public safety solutions.”
For more information, visit the company’s website at www.SuperCom.com.
NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at http://ibn.fm/SPCB
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