The technology-based company providing multimedia and telecommunications products and services, TPT Global Tech Inc (OTCMKTS:TPTW) on April 6, 2023, announced that its wholly-owned subsidiary, TPT SpeedConnect LLC will be merging with Asberry 22.
While TPT SpeedConnect LLC is a leading provider of communications and high-speed internet services, Asberry22 is a publicly traded formerly shell Pink Sheet company.
TPT Global Tech’s Broadband Subsidiary TPT Speedconnect Closes Merger Agreement with Pink Sheet Company
The agreement will see TPTW retain majority control over TPT SpeedConnect with about 85% ownership or 4,658,318 shares of the common shares as well as 100% of Series A Preferred Stock. This will enable TPT SpeedConnect’s financial statements to be consolidated into TPTW.
Stephen J. Thomas III, CEO of TPT Global Tech said that the merger is a significant milestone for TPT SpeedConnect and TPTW. Thomas expressed excitement about closing the merger with ASHI. He added that the merger will facilitate in creation of a robust platform for expansion, growth, and capital raising.
TPT Speed Connect has finished the 4G+/5G network build-out and network upgrade and has commenced the new efforts in the States of Idaho, Texas, and Arizona. The fresh network deployment is part of its effort to upgrade the Mid-American overall network for rural broadband. The two companies are likely to retain the TPT SpeedConnect name and will be headquartered in San Diego CA.
