TPT Global Tech Inc. (OTC:TPTG) Stocks on Watchlist After Latest Development

Leading telecom and technology industry innovator TPT Global Tech Inc. (OTC:TPTG) could be one of the companies that could come on the radars of investors in the coming day in light of new developments. On July 10, the company hit the news cycle after TPT Global Tech announced that its Form S 1 pertaining to the Standby Equity Commitment Agreement with MACRAB, LLC valued at $3,000,000 had become effective with the Securities and Exchange Commission.

As per the terms of the Standby Equity Commitment Agreement and the associated Registration Rights Agreement, TPT Global Tech would now have access to financing tranches on a weekly basis. It was further noted in the news release that further information with regards to the financing tranches in the agreement had been made available in the SEC filings from TPT Global Tech. The financing agreement, which would run for a period of 24 months, would provide TPT Global Tech with a capital source for supporting its growth programs and the launch of the VuMe Super App.

It ought to be noted that the innovative app would integrate a wide range of digital services that would include mobile payments, social media, and multimedia streaming in one app to provide a seamless experience. The company also stated that the latest agreement would also help in reducing the debt burden of TPT Global Tech. In the Registration Rights Agreement that had been filed with the SEC on Form S1, the company registered its common shares, which could be issued in relation to the Standby Equity Commitment Agreement.

The Chief Executive Officer of TPT Global Tech, Stephen Thomas, spoke about the development as well. He noted that the agreement was a demonstration of the confidence of the partners in the vision and strategic direction of TPT Global Tech.