Cloud software platform company Pareteum Corp. has extended the offering period of its tender offer to buy all outstanding shares of iPass Inc. due to unexpected government closure causing delays with Pareteum's registration statement.
The tender offer is now scheduled to expire at 5 p.m. ET on Feb. 12, unless the tender offer is extended or earlier terminated, according to a Jan. 14 news release.
Continental Stock Transfer & Trust, the depository for the tender offer, has advised Pareteum and iPass that as of 5 p.m. ET on Jan. 11, 4,949,254 shares representing about 58.7% of the outstanding iPass shares have been validly tendered pursuant to the tender offer and not properly withdrawn.
Morrow Sodali is acting as information agent for the tender offer.
In November 2018, Pareteum agreed to acquire iPass, a provider of global mobile connectivity and location and performance data, in an all-stock transaction.