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

The Sichenzia Ross Ference LLP team was led by partners Darrin M. Ocasio and Avital, Perlman, Counsel Jeffrey Cahlon and associate Grant Levine.

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.

Author
Recent Posts

Sichenzia Ross Ference LLP

Sichenzia Ross Ference LLP is a full service law firm with a nationally recognized corporate, securities and litigation practice that provides experienced representation in all matters involving the securities industry. In addition to handling routine to complex commercial matters, SRF’s renowned litigation department specializes in defending companies and individuals against all types of securities cases, including class action lawsuits, shareholder derivative actions, and matters involving allegations of fraud, misrepresentation or other securities violations. The litigation team has also brought defamation lawsuits against companies and individuals related to market manipulation. Additionally, it represents individuals and companies in investigations by the Securities and Exchange Commission (SEC) and other regulatory bodies. The litigation team has a robust practice representing brokers and broker-dealers in arbitrations before the Financial Industry Regulatory Authority (FINRA). These arbitrations typically involve claims of unsuitability, churning, unauthorized trading and other allegations of broker misconduct. Finally, SRF has a burgeoning expungement practice, where it represents brokers seeking to have negative and harmful customer complaints removed from their industry records. The firm complements its core practice areas with an established commercial real estate and trusts and estates practice.

Visit SRF's LinkedIn page

Latest posts by Sichenzia Ross Ference LLP (see all)

Sichenzia Ross Ference Partner Andrew M. J. Bernstein, Esq. to Present Grand Jury CLE for Lawline - September 20, 2020
Founding Partner Gregory Sichenzia Quoted in Bankrate Article Discussing Prominent IPOs to Keep an Eye On - September 15, 2020
Sichenzia Ross Ference LLP Represents Vuzix in $15.5 Million Registered Direct Offering - September 10, 2020

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

Related Posts