New deadline----Feb. 28, 2021.... | TEUM Message Board Posts

Pareteum Corporation

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Msg  1786 of 1804  at  2/2/2021 12:38:15 PM  by

LDM


New deadline----Feb. 28, 2021....

From latest 8K:  "On February 1, 2021, Pareteum Corporation (the “Company”) entered into a letter agreement (the “Letter Agreement”) with High Trail Investments SA LLC (“HT”), the holder of that certain Senior Secured Convertible Note due 2025 (the “Note”) issued by the Company on June 8, 2020 and that certain Warrant to Purchase Common Stock (the “Warrant”) issued by the Company on June 8, 2020. Under the terms of the Letter Agreement, HT and the Company agreed that HT would accept 656,250 shares of the Company’s common stock (the “Interest Shares”) in full satisfaction of the Company’s obligation to make a payment of $262,500 in interest on February 1, 2021 under the Note. Additionally, HT and the Company agreed that HT would not exercise any right or remedy under the Note, the related securities purchase agreement, the Warrant or the related security documents, including HT’s right to accelerate the aggregate amount outstanding under the Note, until the earlier of (i) February 28, 2021, (ii) the date of any new event of default or (iii) the initiation of any action by the Company to invalidate any of the representations and warranties made in the Forbearance Agreement."
 
So they get a payment in share at .40 per shares and kicked the can down the road.
 
 
 


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Msg # Subject Author Recs Date Posted
1787 Re: New deadline----Feb. 28, 2021.... jfuentes39 0 2/11/2021 11:51:13 PM








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