IQST - IQSTEL Closes Two-Year Non-Convertible Financing for Ultranet, a Profitable $131 Million-Revenue West African Telecom Platform Expected to Make IQSTEL Cash-Flow Positive on a Consolidated Basis
Key Highlights
- ➤Up to $3 million in two-year senior secured non-convertible notes closed
- ➤Ultranet generated $130.9 million revenue, $5.0 million EBITDA, and $4.6 million net income in 2025
- ➤IQSTEL expects Ultranet acquisition to make consolidated operations cash-flow positive
- ➤IQSTEL targets 51% Ultranet acquisition closing in mid-first quarter 2027
- ➤Microdrama service outreach covers seven operators serving approximately 93 million subscribers
Expert Statements
Leandro Iglesias, CEO of IQSTEL
“We funded this step with two-year non-convertible debt, so shareholders are not taking on conversion dilution to move Ultranet forward,”
Leandro Iglesias, CEO of IQSTEL
“Ultranet gives us profitable scale in six fast-growing West African markets. Ultranet builds the base, and Digital Services, starting with our microdrama, builds the margin.”
Leandro Iglesias, CEO of IQSTEL
“Operators want content that keeps subscribers engaged and adds revenue to the monthly bill. Microdramas do both,”
Leandro Iglesias, CEO of IQSTEL
“Our focus now is turning discussions with seven operators into signed distribution agreements.”
IQST - IQSTEL Closes Two-Year Non-Convertible Financing for Ultranet, a Profitable $131 Million-Revenue West African Telecom Platform Expected to Make IQSTEL Cash-Flow Positive on a Consolidated Basis PR Newswire
* Up to $3 million in two-year senior secured, non-convertible promissory notes closed — debt financing with no conversion feature. * Ultranet generated $130.9 million in 2025 revenue, up 30%, with $5.0 million in EBITDA and $4.6 million in net income, and is expected to make IQSTEL cash-flow positive on a consolidated basis. * Ultranet's six markets — Nigeria, Côte d'Ivoire, Ghana, Burkina Faso, Mali and Senegal — sit in Sub-Saharan Africa, one of the world's fastest-growing mobile regions. * IQSTEL Digital's microdrama service is in commercial outreach to seven mobile operators serving approximately 93 million subscribers. NEW YORK, Oct. 26, 2026 /PRNewswire/ -- IQSTEL Inc. (NASDAQ: IQST) ("IQSTEL" or the "Company"), a global telecommunications and technology company, today announced that it has closed the first financing tranche for its planned acquisition of a 51% controlling interest in Ultranet Telecom Group ("Ultranet"). The financing consists of two-year senior secured, non-convertible promissory notes of up to $3 million, together with pre-funded warrants to purchase up to 420,000 shares of common stock. Full terms will be described in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.
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