Pareteum Corporation (fka TEUM)

[Frenchy2016]

Pareteum Announces Registered Direct Offering and Concurrent Private Placement for Gross Proceeds of $6.58M
Today 10:11 AM ET (PR NewsWire)Print

Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), today announced that it agreed to sell an aggregate of 7,151,146 shares of the Company's common stock, $0.00001 par value per share (the "Common Stock"). The purchase price per share was $0.92. The shares were offered and are being sold to certain accredited investors in a registered direct offering. Concurrently, the Company agreed to sell in a private placement, warrants to purchase an aggregate of 7,151,146 shares of Common Stock at an exercise price of $1.09 per share with a 5 year term. The Company received gross proceeds from the offering of approximately $6.58 million.
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The Company intends to use the net proceeds from the offering for general working capital and corporate purposes and may include debt repayment.
Dawson James Securities, Inc. served as placement agent for the offering.