TEUM - Pareteum Secures Another Expensive Lifeline - Sell The Rally
Note:
I have previously covered Pareteum Corporation (NASDAQ:TEUM), so investors should view this as an update to my earlier articles on the company.
Seven months ago, I discussed the abysmal terms of controversial emerging Communications Platform as a Service ("CPaaS") provider Pareteum Corporation's emergency financing with its principal shareholder Hoving & Partners.
The transaction originally contemplated Pareteum raising up to $20 million in newly authorized Series C redeemable preferred stock but after the initial $5 million funding in December 2019, only $4.3 million from the sale of additional preferred stock were raised.
Management