CAMPBELL, CA -- (Marketwired) -- 01/26/17 -- Inventergy Global, Inc. (NASDAQ: INVT) (the "Company"), an intellectual property licensing and innovation company, today announced that it has completed an agreement with its Series E Preferred (the "Preferred") stockholders to extend until March 8, 2017 the Company's option to redeem the Preferred stock and restrict any conversion of the Preferred into Inventergy common stock at a discount to the market price.
Joe Beyers, the Chairman and CEO of Inventergy stated, "We are pleased that we have this extended time to drive the execution of our intention to redeem the Preferred rather than have it dilute the common stock of the Company. With the completion of the Restructuring Agreement with the Fortress Investment Group, LLC and the ramp-up of our Inventergy Innovations business, we believe that we have significant opportunities going forward and wish to minimize further dilution to stockholders." Mr. Beyers continued, "We are grateful to our Preferred investors who have provided us this flexibility under reasonable terms."
About Inventergy Global, Inc.
Inventergy Global, Inc. is a Silicon Valley-based intellectual property company dedicated to identifying, acquiring and licensing patented technologies of market-significant technology leaders and small companies. Led by IP industry pioneer and veteran Joe Beyers, the Company leverages decades of corporate experience, market and technology expertise, and industry connections to assist Fortune 500 and other technology companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy, visit www.inventergy.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements, estimates, forecasts and projections with respect to future performance and events, which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent and belief or current expectations of the Company and its affiliates and subsidiaries and their respective management teams. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "should," "seek" and similar expressions and include any projections or estimates set forth herein. Investors and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, that actual results may differ materially from those projected in the forward-looking statements.
Source: Inventergy Global, Inc.