Pareteum Corporation (OTCMKTS:TEUM) – a worldwide cloud Communications-Platform-as-a-Service company, is mulling over a range of strategic alternatives. They have just announced that this step is due to their ongoing liquidity requirements. Strategic alternatives include, but aren’t limited to, a sale or other business combinations, restructuring transactions, and financing too.
To help with the evaluation process, Pareteum is seeking professional assistance and advice from FTI Capital Advisors, LLC. Mary Beth Vitale, Chair of the Board of Directors of the company has said that due to the present state of the company, the Board has decided in favor of undertaking this strategic review. It is high time to ensure that all available alternatives for the company are thoroughly evaluated.
Pareteum continues to be focused on customers, vendors, employees, and other constituents. It will also run day-to-say operations as always, while the alternatives are being evaluated. No timetable has been set by the company for the conclusion of its consideration of strategic alternatives. We are unlikely to hear about updates anytime soon, as the company won’t comment further till a specific course of action is approved. It could also be otherwise determined that further disclosure is appropriate or required, and according to the requirements of applicable securities laws.
Market Reaction:
On Friday, TEUM stock jumped marginally to $0.2350 with more than 120K shares, compared to its average volume of 451k shares. The stock has moved within a range of $0.2000 – 0.2450 after opening the trade at $0.2450.
