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Pareteum Announces the Closing of a Firm Commitment Underwritten Public Offering for Gross Proceeds of $12,000,000NEW YORK, Nov. 9, 2017 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM),("Pareteum" or the "Company"), closed a firm commitment underwritten offering of 9,009,478 shares of common stock, 4,034 shares of preferred stock (each of which shares is an equivalent of 1,000 shares of common stock), and five-year warrants to purchase up to 7,478,228 shares of common stock exercisable at $1.05 per warrant. The offering was priced at $0.92 per share of common stock and $920.00 per share of preferred stock. The Company received net proceeds from the offering of approximately $10.7 million, after deducting the applicable underwriting discount and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for general working capital and corporate purposes. Dawson James Securities, Inc. served as the sole bookrunner for the offering. A registration statement on Form S-1 relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective on November 6, 2017. The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained by contacting Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal Highway, 5th Floor, Boca Raton, FL 33432, [email protected] or toll free at 866.928.0928, or by accessing the SEC's website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Pareteum Corporation Forward Looking Statements: Pareteum Investor Relations Contact:
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