Pareteum Corporation (“Pareteum” or the “Company”), a global cloud Communications-Platform-as-a-Service (CPaaS) company, announced that due to ongoing liquidity requirements it intends to evaluate a range of strategic alternatives. These strategic alternatives include, but are not limited to, a sale or other business combinations, financing, and/or restructuring transactions.
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Pareteum has engaged FTI Capital Advisors, LLC to assist with the evaluation process.
Mary Beth Vitale, Chair of the Board of Directors of the Company, stated: “Our Board has determined that it is prudent at this time to undertake this strategic review to ensure all available alternatives for the Company are being evaluated. Pareteum will remain focused on our customers, vendors, employees, and other constituents, as well as continue to run the day-to-day operations as usual as it evaluates such alternatives.”
The Company has not set a timetable for the conclusion of its consideration of strategic alternatives, and it does not intend to comment further unless and until a specific course of action has been approved or the Company has otherwise determined that further disclosure is appropriate or required and in accordance with the requirements of applicable securities laws.
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