Sichenzia Ross Ference Represents Pareteum Corporation in Tender Offer for Shares of iPass, Inc. and Completes Acquisition

Press Release – New York, NY – February 14, 2019 – 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 accepted for exchange shares  of iPass, Inc. (Nasdaq: IPAS), a provider of global mobile connectivity.

The iPass shares were all validly tendered in the previously-announced tender offer by a wholly-owned Pareteum subsidiary to acquire all of iPass’ outstanding shares for the agreed consideration of 1.17 shares of Pareteum stock per iPass share. The shares accepted represent approximately 66.78% of iPass’ outstanding common stock. Pareteum acquired the remaining outstanding shares of iPass’ common stock through a merger of a wholly-owned Pareteum subsidiary with and into iPass.  Pareteum issued a total of approximately 9.865M shares of its common stock, valued at $28.6M, based on the February 12, 2019 closing price of $2.90, and assumed approximately $11M in debt for a total transaction size of approximately $39.6M.  Following the merger, iPass shares will no longer be traded on Nasdaq.

The Sichenzia Ross Ference LLP team was led by partners Darrin Ocasio and Avital Perlman and associates Grant Levine and Huan Lou.

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Sichenzia Ross Ference LLP

Sichenzia Ross Ference LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Super Lawyers consistently recognizes our attorneys as among the highest rated securities lawyers in the nation. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on major capital stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. We also represent clients in a range of residential and commercial real estate and trusts and estates matters.

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