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SAN DIEGO, CA / ACCESSWIRE / December 18, 2020 / TPT Global Tech, Inc. ( TPTW, the Company or TPT Global Tech ) (OTCQB:TPTW) announced today two of the company s large debt holders subscribed to convert their corporate debt into mezzanine equity by moving a total of $4.7M debt positions into the company s Preferred Series D shares conditioned upon the Company having raised $12M in its Reg A + Offering, approval of the Series D Preferred Stock for OTC trading and certain payment of debt amounts to debt holders.
The company s Preferred Series D Reg A+ Tier 2 offering was qualified in September 2020, recently changed to a $38M Offering. The Company intends to use the proceeds from the Offering for debt restructuring, expansion of the company s 5G network plan throughout its TPT SpeedConnect Midwestern network, launching its TV and Social Media Platform, deployment of Quiklabs across the United States and abroad, and providing general working capital.