Glowpoint, Inc. (NYSE American: GLOW) (“Glowpoint” or the
“Company”), a managed service provider of video collaboration and
network applications, today announced Jason Adelman and Richard
Ramlall have been appointed to Glowpoint’s Board of Directors.
Concurrent with the appointments of Mr. Adelman and Mr.
Ramlall, Chairman Patrick Lombardi and Independent Director Ken
Archer have resigned as directors on Glowpoint’s Board.
Additionally, Peter Holst was appointed to the additional
role of Chairman of the Board, and James Lusk was appointed lead
independent director.
Jason Adelman is a successful investor and
advisor across the capital structure in both private and public
small cap companies. Jason was the lead advisor on the merger of
Computer Motion and Intuitive Surgical (NASGAQ: ISRG), which
created a leading company in the robotic assisted surgery sector.
Jason also served as a board member and Chairman of the Audit
Committee of Pharmacylics, Inc. from 2008 to 2010, when the company
successfully recapitalized its business and shifted its research
and development focus to novel treatments for B cell cancers.
Mr. Adelman is currently a member of the Board of Directors
of Trio-Tech International (NYSEAmerican: TRT) where he serves as a
Member of the Audit and Compensation Committees. Glowpoint’s Board
expects that Mr. Adelman will serve as a member of the Compensation
and Nominating Committee. Mr. Adelman commented, “I look
forward to working closely with Pete and my fellow Glowpoint board
members. As a long term and large shareholder and now as member of
the Board of Directors, I am committed to working expeditiously to
support management in maximizing shareholder value.”
Richard Ramlall is an accomplished senior
executive and currently serves as Chief Communications Officer at
Internap Corporation (NASDAQ: INAP). INAP is a leading
technology provider of High-Performance Data Center Services
including Colocation, Managed, Hosting, Cloud and Network Services.
Mr. Ramlall has over 30 years of business development, strategic
planning, regulatory, investor relations, and public relations
experience in telecom and media. His corporate experience
includes various roles at Verizon, Bechtel, Spencer Trask Ventures,
RCN and Primus. Glowpoint’s Board expects that Mr. Ramlall will
serve as a member of the Audit and Nominating Committee.
“We are pleased to have Jason and Richard join
Glowpoint’s Board of Directors. Jason and Richard bring diverse
perspectives and expertise to our board,” said Peter Holst,
Chairman and CEO of the Board of Directors of Glowpoint. “Jason’s
deep capital markets experience and Richard’s extensive skills
across business development, M&A, investor relations, public
relations within the telecommunications and media markets should be
valuable to Glowpoint as we work to deliver our strategic goals. We
look forward to their contributions.”
Added Mr. Holst, “We would also like to thank
Patrick and Ken for their many contributions to Glowpoint as
long-standing independent directors. Pat previously served as
Chairman of the Board and Ken as Chair of the Nominating Committee.
We are extremely grateful for both Pat and Ken’s dedicated service,
expertise and commitment to the Company. We sincerely wish
them well in their future endeavors.”
About Jason Adelman
Mr. Adelman is the Founder and Managing Member
of Burnham Hill Capital Group, LLC, a privately held financial
advisory firm. Mr. Adelman serves as Managing Member of
Cipher Capital Partners LLC, a private investment fund. Prior to
founding Burnham Hill Capital Group, LLC in 2003, Mr. Adelman
served as Managing Director of Investment Banking at H.C.
Wainwright and Co., Inc. Mr. Adelman graduated cum laude with a
B.A. in Economics from the University of Pennsylvania and earned a
JD from Cornell Law School where he served as Editor of the Cornell
International Law Journal.
About Richard Ramlall
Mr. Ramlall brings to our Board more than 30
years of experience in the telecommunications/IT industry and more
than 24 years of international business experience, as well as
operational experience at a senior executive level. Through his own
firm he has provided investor relations, financial and regulatory
due diligence and compliance, business development, strategic
planning, and public relations consulting to public and private
organizations in the financial, telecom and energy sectors. He also
was selected to the 2014-2017 Advisory Board of the Washington
Wizards NBA Franchise and most recently served on the Board of
Evolving Systems (NASDAQ: EVOL), a provider of software solutions
and services to the wireless, wireline and internet protocol (IP)
carrier market. He served as Senior Vice President, Corporate
Development and Chief Communications Officer of Primus
Telecommunications Group, Incorporated (NYSE:PTGI), from November
2010 to August 2013. Before being successfully sold to various
entities, Primus was a leading provider of advanced communication
solutions, including broadband Internet, traditional and IP voice,
data, mobile services, colocation, hosting, and outsourced managed
services to business and residential customers in the United
States, Canada and Australia. From March 2005 to August 2010,
he served as Senior Vice President, Strategic External Affairs and
Programming at RCN Corporation, a leading overbuilder broadband
provider of video, data, and voice services to residential,
business and commercial/carrier customers. Prior to joining
RCN in March 2005, Mr. Ramlall served as Senior Managing Director
and Executive Vice President of Spencer Trask Media and
Communications Group, LLC (a division of New York-based venture
capital firm Spencer Trask & Company) based in Reston,
Virginia, from June 1999. From March 1997 to June 1999, Mr.
Ramlall served as Vice President and Managing Director for
Strategy, Marketing and International Government Affairs for
Bechtel Telecommunications, a subsidiary of Bechtel Corporation.
Prior to that, Mr. Ramlall spent over 18 years at Bell
Atlantic (now Verizon) including assignments in Product Management,
Legal, Regulatory, Rates, Forecasting and Country Manager—Indian
Subcontinent. In 1990, Mr. Ramlall was selected to serve a
one-year appointment under the Presidential Exchange Executive
Program of the White House. Mr. Ramlall formerly served on the
Alzheimer’s Association—National Capital Area Board of Directors
from 2008 to 2012 and a number of private company Boards. Mr.
Ramlall holds a B.S. in Business Administration and an M.G.A.
(Technology Management) from the University of Maryland.
About GlowpointGlowpoint, Inc. (NYSE American:
GLOW) is a managed service provider of video collaboration and
network applications. Our services are designed to provide a
comprehensive suite of automated and concierge applications to
simplify the user experience and expedite the adoption of video as
the primary means of collaboration. Our customers include
Fortune 1000 companies, along with small and medium sized
enterprises in a variety of industries. To learn more please
visit www.glowpoint.com.
Forward looking and cautionary statements
This press release and any oral statements made
regarding the subject of this release contain forward-looking
statements as defined under Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, and are made under the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, that address
activities that Glowpoint assumes, plans, expects, believes,
intends, projects, estimates or anticipates (and other similar
expressions) will, should or may occur in the future are
forward-looking statements. Glowpoint’s actual results may
differ materially from its expectations, estimates and projections,
and consequently you should not rely on these forward-looking
statements as predictions of future events. The forward-looking
statements are based on management’s current belief, based on
currently available information, as to the outcome and timing of
future events, and involve factors, risks, and uncertainties that
may cause actual results in future periods to differ materially
from such statements. A list and description of these and
other risk factors can be found in the Company’s Annual Report on
Form 10-K for the year ending December 31, 2018 and in other
filings made by the Company with the SEC from time to time,
including the Company’s Quarterly Report on Form 10-Q for the three
months ended March 31, 2019. Any of these factors could cause
Glowpoint’s actual results and plans to differ materially from
those in the forward-looking statements. Therefore, Glowpoint
can give no assurance that its future results will be as
estimated. Glowpoint does not intend to, and disclaims any
obligation to, correct, update or revise any information contained
herein.
INVESTOR CONTACT: Investor
Relations Glowpoint, Inc. +1 303-640-3840
investorrelations@glowpoint.com www.glowpoint.com
Glowpoint (AMEX:GLOW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Glowpoint (AMEX:GLOW)
Historical Stock Chart
From Apr 2023 to Apr 2024