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EX-99.7 - PRESS RELEASE - TPT GLOBAL TECH, INC. | tpt_ex997.htm |
EX-99.6 - PRESS RELEASE - TPT GLOBAL TECH, INC. | tpt_ex996.htm |
EX-99.5 - PRESS RELEASE - TPT GLOBAL TECH, INC. | tpt_ex995.htm |
EX-99.4 - PRESS RELEASE - TPT GLOBAL TECH, INC. | tpt_ex994.htm |
EX-99.3 - PRESS RELEASE - TPT GLOBAL TECH, INC. | tpt_ex993.htm |
EX-99.1 - PRESS RELEASE - TPT GLOBAL TECH, INC. | tpt_ex991.htm |
8-K - CURRENT REPORT - TPT GLOBAL TECH, INC. | tpt_8k.htm |
Exhibit 99.2
TPT Global Tech’s Preferred Series D Reg A+ $50M Equity Raise
Qualified By the SEC
San
Diego, CA (September 24, 2020). TPT Global Tech, Inc.
("TPTW, the Company or TPT Global Tech") (OTCBB:
TPTW) announced today that
the SEC has qualified the Company’s Preferred Series D $50M
Reg A+ Offering (“Offering”) enabling the Company to
raise equity in the US Capital markets. Through the
Offering, TPTW can raise up to a maximum of $50,000,000 without a
minimum, by way of a Series D Preferred Stock at $5.00 per share.
The Company intends to use the proceeds from the Offering for debt
reduction, 5G network expansion plan throughout its TPT
SpeedConnect Midwestern network, launching its TV and Social Media
Platform, deployment of QuikLABS across the United States and
abroad, as well as support of general and administrative expenses
and general working capital, among other things.
The
Offering will be made available to persons who are both
non-accredited and accredited investors (defined under Rule 501(a)
of Regulation D promulgated under the Securities Act). The Series D
Shares shall automatically convert into shares of Common Stock upon
the Company’s consummation of listing on a National Exchange.
The holder may convert to common at any time after 18 months from
issuance to common stock based upon $5.00 divided by 80% of the
30-day average market closing price to result in number of common
shares issued. The company has redemption rights to buy the
Preferred shares back at between 115% to 140% on a time related
progressive scale.
More
detailed information on the Offering can be found in the Offering
Circular or SEC.Edgar.com.
“It has been a long and challenging ride over these past
several years to position the company to be able to finally raise
capital in the US Capital markets. This is truly a milestone and a
testament of the quality of work from our TPT SEC Legal team, CFO,
Back Office and our TPT Management team. We look forward to
executing our corporate objectives at an accelerated pace with new
working capital into the company.” says Stephen Thomas CEO of
TPTW.
About TPT Global Tech
TPT Global Tech Inc. (TPTW)
based in San Diego, California, is a technology-based company with
divisions providing telecommunications, medical technology and
product distribution, media content for domestic and international
syndication as well as technology solutions. TPT Global Tech offers
Software as a Service (SaaS), Technology Platform as a Service
(PAAS), Cloud-based Unified Communication as a Service (UCaaS). It
offers carrier-grade performance and support for businesses over
its private IP MPLS fiber and wireless network in the United
States. TPT's cloud-based UCaaS services allow businesses of any
size to enjoy all the latest voice, data, media and collaboration
features in today's global technology markets. TPT Global Tech also
operates as a Master Distributor for Nationwide Mobile Virtual
Network Operators (MVNO) and Independent Sales Organization (ISO)
as a Master Distributor for Pre-Paid Cellphone services, Mobile
phones Cellphone Accessories and Global Roaming
Cellphones.
Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of various provisions of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, commonly
identified by such terms as "believes," "looking ahead,"
"anticipates," "estimates" and other terms with similar meaning.
Specifically, statements about the Company's plans for accelerated
growth, improved profitability, future business partners, M&A
activity, new service offerings, and pursuit of new markets are
forward-looking statements. Although the company believes that the
assumptions upon which its forward-looking statements are based are
reasonable, it can give no assurance that these assumptions will
prove to be correct. Such forward-looking statements should not be
construed as fact. The information contained in such statements is
beyond the ability of the Company to control, and in many cases,
the Company cannot predict what factors would cause results to
differ materially from those indicated in such statements. All
forward-looking statements in the press release are expressly
qualified by these cautionary statements and by reference to the
underlying assumptions.
Frank Benedetto
619-915-9422