Business Context and Reporting Period
This Form 6-K filing by Supercom Ltd. (SPCB) covers the month of November 2022. The report details a corporate action approved by the board of directors and stockholders: a 1-for-10 Reverse Split of all issued and outstanding ordinary shares.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the mechanics of the Reverse Split.
- Share Par Value: Increased from NIS 0.25 to NIS 2.5 per share.
- Effective Date: November 23, 2022.
- Trading Symbol: Remains "SPCB" on the Nasdaq Stock Market.
- New CUSIP: M87095200.
Material Changes
The primary material change is the reduction of the number of outstanding shares by a factor of ten. Every ten pre-split shares automatically convert into one post-split share. Fractional shares resulting from the split are rounded up. The number of authorized shares has been correspondingly reduced.
Guidance, Outlook, and Adjustments
The filing does not contain financial guidance, management commentary on future outlook, or discussion of risks and contingencies beyond the Reverse Split mechanics. However, it notes specific adjustments to existing securities:
- Options and Warrants: The number of shares exercisable or convertible is divided by ten, while the exercise or conversion price is multiplied by ten.
- Shareholder Action: No action is required for shareholders holding shares in electronic form or certificated form, though certificate exchange is optional.
Investor Verification Checklist
- Confirm the effective date of the Reverse Split (November 23, 2022) and the adjusted share count in brokerage accounts.
- Verify the new CUSIP number (M87095200) for trading and settlement purposes.
- Review the adjusted terms of any held options, warrants, or convertible securities to ensure exercise prices and share quantities reflect the 1-for-10 ratio.
- Check subsequent filings for updated financial statements reflecting the post-split capital structure.