TPT Global Tech Inc (TPTW) has released an update.
TPT Global Tech, Inc. has secured a financial agreement with 1800 Diagonal Lending, LLC through a $92,000 Convertible Promissory Note and Securities Purchase Agreement, resulting in $75,000 net cash for the company. The note carries a 12% interest rate, which escalates to 22% in case of default, and can be converted into company stock at a 35% discount to market price. To facilitate this deal, TPT Global Tech has increased its common stock reserve by 750 million shares, ensuring the lender’s ownership remains below 4.99% of the total outstanding stock. This strategic move aligns with the company’s recent announcement of a partnership to enhance its “VuMe Super App.”
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