SAN DIEGO, CA / ACCESSWIRE / December 18, 2020 / TPT Global Tech, Inc. ("TPTW, the Company or TPT Global Tech") (OTCQB:TPTW) announced today two of the company's large debt holders subscribed to convert their corporate debt into mezzanine equity by moving a total of $4.7M debt positions into the company's Preferred Series D shares conditioned upon the Company having raised $12M in its Reg A + Offering, approval of the Series D Preferred Stock for OTC trading and certain payment of debt amounts to debt holders.
The company's Preferred Series D Reg A+ Tier 2 offering was qualified in September 2020, recently changed to a $38M Offering. The Company intends to use the proceeds from the Offering for debt restructuring, expansion of the company's 5G network plan throughout its TPT SpeedConnect Midwestern network, launching its TV and Social Media Platform, deployment of Quiklabs across the United States and abroad, and providing general working capital.
Further characteristics of the Reg A+ Offering can be found on the Edgar SEC website. San Diego base CIM Securities has been retained by the company to be the lead Placement Agent for Companies $38M Reg A+ Tier 2 Offering.
"We are very excited that CIM Securities is now on board as our Placement Agent for our Offering. We are also thankful that two of our largest debt holders have recognized our hard work and subscribed to convert their debt to our Preferred D shares." says Stephen Thomas CEO of TPTW.
About CIM Securities
CIM Securities is an independent investment bank that serves micro-cap and small-cap companies by providing capital raising solutions and also merger and acquisition services for companies seeking growth capital or services. CIM Securities also caters to individual investors providing comprehensive brokerage and money management solutions. CIM Securities provides institutional investors and individual investors periodic opportunities to participate in public offerings and private placements of public or private companies. CIM Securities' Investment Banking group is focused on developing long-term relationships with senior management teams and significant stakeholders of micro-cap and small-cap market companies. Consistent with CIM Securities' mission, the Investment Banking group seeks to deliver value-added solutions with a focus on the needs of its clients through experience, execution and accountability in the areas of capital raising and strategic advisory. The CIM Securities' team is comprised of senior level professionals with extensive experience in terms of years, transactions and capital raised. CIM Securities' has an extensive syndicate team.
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About TPT Global Tech
TPT Global Tech Inc. (TPTW) based in San Diego, California, is a technology-based company with divisions providing telecommunications, medical technology and product distribution, media content for domestic and international syndication as well as technology solutions. TPT Global Tech offers Software as a Service (SaaS), Technology Platform as a Service (PAAS), Cloud-based Unified Communication as a Service (UCaaS). It offers carrier-grade performance and support for businesses over its private IP MPLS fiber and wireless network in the United States. TPT's cloud-based UCaaS services allow businesses of any size to enjoy all the latest voice, data, media and collaboration features in today's global technology markets. TPT Global Tech also operates as a Master Distributor for Nationwide Mobile Virtual Network Operators (MVNO) and Independent Sales Organization (ISO) as a Master Distributor for Pre-Paid Cellphone services, Mobile phones Cellphone Accessories and Global Roaming Cellphones.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Specifically, statements about the Company's plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings, and pursuit of new markets are forward-looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases, the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
CONTACT:
Frank Benedetto
619-915-9422
SOURCE: TPT Global Tech, Inc.
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