My guess: hand drawn or altered.
- Bowl of P is not as thick as other letters, and not like the “o” at all.
- Bowl of P joins stem with a slight upturn, and it is higher than the x-height.
- Two round legs of “m” are not identical.
- Tail of “a” is stubby and does not extend below the baseline, as a bottom curve should.
- “o” has curious squared-off look where the thick strokes merge with thin strokes.
- Thin strokes (not serifs) are uneven in weight.