NEW YORK, Sept. 26, 2019 /PRNewswire/ -- Pareteum
Corporation (Nasdaq: TEUM), the rapidly growing cloud
communications platform company, today repaid its lender, Post Road
Group, the full payoff of the senior secured debt. Through this
action, Pareteum immediately improved its cash flows by removing
security interests of the lender and eliminating the loan,
including interest and amortization, prior to the agreed maturity
date.
Hal Turner, Executive Chairman
and CEO of Pareteum, added, "We're pleased to have paid off our
loans under the Credit Agreement with proceeds from this week's
capital raise. The amount raised further strengthens our financial
position, leaving additional working capital and improving our
balance sheet position. We are focused on high-value,
high-growth, sales opportunities globally to continue our growth
trajectory and build shareholder value over time."
About Pareteum Corporation:
Millions of people and devices are connected around the world using
Pareteum's Global Cloud Communications Platform, enhancing their
mobile experience. Pareteum unleashes the power of applications and
mobile services, bringing secure, ubiquitous, scalable, and
seamlessly available voice, video, SMS/text messaging, and data,
media and content enablement to our customers, making worldwide
communications services easily and economically accessible to
everyone. By harnessing the value of our cloud communications
platform, Pareteum serves enterprises, communications service
providers, early stage innovators, developers, IoT, and
telecommunications infrastructure providers. Pareteum envisions a
new mobile communications experience imagining what will be, and
delivering now. Pareteum currently has offices in North America, South
America, Spain,
Bahrain, Singapore, India, Indonesia, Germany, Belgium, United
Kingdom, Russia, and
the Netherlands. For more
information please visit: www.pareteum.com.
Forward Looking Statements:
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements may include, without
limitation, statements with respect to Pareteum's plans and
objectives, projections, expectations and intentions. These
forward-looking statements are based on current expectations,
estimates and projections about Pareteum's industry, management's
beliefs and certain assumptions made by management. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict.
Because such statements involve risks and uncertainties, the actual
results and performance of Pareteum may differ materially from the
results expressed or implied by such forward-looking statements.
Given these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. Unless otherwise
required by law, Pareteum also disclaims any obligation to update
its view of any such risks or uncertainties or to announce publicly
the result of any revisions to the forward-looking statements made
here. Additional information concerning certain risks and
uncertainties that could cause actual results to differ materially
from those projected or suggested in Pareteum's filings with the
Securities and Exchange Commission, copies of which are available
from the SEC or may be obtained upon request from Pareteum
Corporation.
Media Inquiries:
Press@pareteum.com
Pareteum Investor Relations Contacts:
Carrie Howes
Investor Relations
+1 650 232 4238
carrie.howes@pareteum.com
Investor.relations@pareteum.com
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SOURCE Pareteum Corporation