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Wireless

Pareteum raises USD 14 mln from completed share issue

Wednesday 10 June 2020 | 08:57 CET | News
Pareteum, a provider of communication platform-as-a-service products, said it has completed the issue of USD 17.5 million worth of senior secured convertible notes, with warrants, to an institutional investor. The company will use the net proceeds, estimated at USD 14 million, for working capital, general corporate purposes, growth initiatives and new product development. CEO Bart Weijermars said the company will be able to invest further in its proprietary technology and move forward in the growing global marketplace.

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Categories: Mobile & Wireless
Companies: Pareteum
Countries: World
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