Dawson James Securities Announces the Completion of Underwritten Public Offering for Pareteum Corporation for Gross Proceeds of $12,000,000 Million
BOCA RATON, FL / ACCESSWIRE / November 9, 2017 / Dawson James Securities, Inc. in conjunction with Pareteum Corporation (NYSE American: TEUM) completed an underwritten offering of 9,009,478 shares of common stock, 4,034 shares of preferred stock and five-year warrants to purchase up to 7,478,228 shares of common stock exercisable at $1.15 per warrant. The offering was priced at $.915 per share of common stock and $915 per share of preferred stock. The Company expects to receive net proceeds from the offering of approximately $10.6 million.
In addition, The Company has granted the underwriters a 45-day overallotment option to purchase up to an additional 1,956,522 shares of common stock and /or warrants to purchase up to 978,261 shares of common stock.
Dawson James Securities, Inc. acted as the sole manager for the offering and utilized its Diversified Investor Offering™ structure including both institutional and retail investors, including a large NY based family office as the lead.
The shares described above were offered by Pareteum, Inc. pursuant to a registration statement previously filed with, and subsequently declared effective by, the Securities and Exchange Commission ("SEC"). A final prospectus supplement relating to the offering was filed with the SEC and is available, along with the accompanying base prospectus, on the SEC's website at http://www.sec.gov, or by contacting Dawson James: 1 N. Federal Hwy; Suite 500, Boca Raton, FL 33432 ATTN: Prospectus Department.
About Pareteum Corporation
The mission of Pareteum Corporation (NYSE American: TEUM) is to connect "every person and everything." Organizations use Pareteum to energize their growth and profitability through cloud communication services and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. By harnessing the value of communications, Pareteum serves retail, enterprise and IoT customers. Pareteum currently has offices in New York, Sao Paulo, Madrid, Barcelona, Bahrain, and the Netherlands. For more information, please visit: www.pareteum.com.
About Dawson James Securities
Dawson James Securities specializes in capital raising for small and microcap public and private growth companies primarily in the Life Science/Health Care, Technology and Consumer sectors and is a full service investment banking firm with research, institutional and retail sales, and execution trading and corporate services. Headquartered in Boca Raton, FL, Dawson James is privately held with offices in New York, Maryland and New Jersey. www.dawsonjames.com
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A Of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements.
Member FINRA/SIPC. For more information, please contact:
Elise Stern, Managing Director, Head of Capital Markets
SOURCE: Dawson James Securities, Inc.