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NetworkNewsBreaks – Spectrum Global Solutions, Inc. (SGSI) Announces Divesture of WaveTech GmbH, TNS Subsidiaries

Company: Spectrum Global Solutions Inc. (SGSI)
Category: News

Spectrum Global Solutions (OTCQB: SGSI), a single-source provider of next-generation communications network and professional services to telecommunications and enterprise markets, today announced the company’s divestiture of its WaveTech GmbH and TNS subsidiaries to a company controlled by three former members of its board of directors. Spectrum’s Series C Convertible Preferred Stock has, in effect, been eliminated in connection with the divestiture and will retire more than $1.7M in convertible debt and other balance sheet liabilities. “The divestiture of these companies will allow Spectrum to proceed in a more streamlined and focused direction with a stronger balance sheet and without an overhang on its cap-table,” Spectrum CEO Roger Ponder said in the news release. “WaveTech GmbH and TNS will now be free to pursue their objectives separately and without public company overhead and oversight.”

To view the full press release, visit https://nnw.fm/o2Yyy

About Spectrum Global Solutions

Spectrum operates through its subsidiaries, AW Solutions and ADEX Corp. The company is a provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. For more information about the company and its technologies, visit its public filings at www.SEC.gov or its website at www.SpectrumGlobalSolutions.com.

NOTE TO INVESTORS: The latest news and updates relating to SGSI are available in the company’s newsroom at http://nnw.fm/SGSI

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NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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