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Snackman

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Tuesday, 06/09/2020 6:47:45 PM

Tuesday, June 09, 2020 6:47:45 PM

Post# of 3164
Pareteum Secures $17.5 million in Financing to Position for Future Growth

PR Newswire•June 9, 2020

NEW YORK, June 9, 2020 /PRNewswire/ -- Pareteum Corporation (Nasdaq: TEUM), (the "Company"), a global cloud communications platform company, today announced that the Company closed the issuance of $17.5 million in Senior Secured Convertible Notes, with warrants, to an institutional investor. The net proceeds to the Company will be $14 million. The net proceeds from the financing will be used for working capital, general corporate purposes, growth initiatives and new product development.

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