Sichenzia Ross Ference Represents Pareteum Corporation in Definitive Agreement to Acquire iPass, Inc.
Press Release – New York, NY – November 13, 2018 – Nationally recognized securities and corporate law firm Sichenzia Ross Ference LLP announced today that it represented Pareteum Corporation (Nasdaq: TEUM), a cloud software platform, as it entered into a definitive agreement under which it will acquire iPass, Inc. (Nasdaq: IPAS), a provider of global mobile connectivity, in an all-stock transaction. Pareteum anticipates achieving more than $15 million in annual cost synergies; more than $12 million of such synergies are expected to be realized in the first year.
Under the terms of the definitive acquisition agreement, iPass stockholders will receive 1.17 shares of Pareteum common stock in an exchange offer. Upon satisfaction of the conditions to the exchange offer, the parties will effect a merger that is expected to close in the first quarter of calendar year 2019.
Jefferies LLC acted as exclusive financial advisor to Pareteum. iPass’ financial advisor was Raymond James & Associates, Inc.
The Sichenzia Ross Ference LLP team was led by partners Darrin Ocasio, Avital Perlman and associate Grant Levine.
- Sichenzia Ross Ference LLP Represents Spartan Capital Securities LLC and Pacific Century Securities LLC in $14.1 Million Initial Public Offering of Common Shares of Lytus Technologies Holdings PTV. Ltd. - June 22, 2022
- Sichenzia Ross Ference LLP Represents Aegis Capital Corp. in $10 Million Private Placement of SciSparc Ltd. - June 2, 2022
- Sichenzia Ross Ference LLP Represents The Singing Machine, Inc., in $4 Million Underwritten Public Offering and Uplisting to Nasdaq - May 26, 2022