TPT Global Tech Inc. (OTC:TPTW) Stock Soars 67%: Here is Why

If you are currently looking into companies that are known for innovation, then it may be a good time to consider tracking TPT Global Tech Inc. The company is known for being a major innovator in the tech and telecom industries. This past Friday, TPT Global Tech Inc. (OTC:TPTW) came into the news cycle after it announced that it had entered into an equity financing agreement worth $3,000,000 with MACRAB LLC as per the provisions of the Standby Equity Commitment Agreement.

The financing term for the amount of $3,000,000 would be for 24 months. It was also noted that, as per the terms of the Registration Rights Agreement, a Form S-1 Registration Statement would also be filed with the SEC (Securities and Exchange Commission). That would enable the registration of the common shares, which would be issued in relation to the financing facility.

The strategic financial facility had been designed for the purpose of supporting the corporate aims of TPT Global Tech. One of the more important projects for the company at this point is the launch of the highly innovative VuMe Super App. Additionally, TPT Global Tech also plans to boost its financial structure by cutting down on its debt. It was also revealed that the company was currently working on raising more capital through its Tier 2 IA Preferred Share offering, which had been qualified with the SEC.

The arrangement signed by the company would provide it with a steady source of capital over the course of the next 24 months. It would allow TPT Global Tech to draw down capital in tranches as and when needed, which would provide it with the necessary flexibility to manage its cash flow in a better fashion. It was also announced that the terms of the agreement had been drawn up in such a way that they were in alignment with the goals of TPT Global Tech.