The Glimpse Group Announces Closing of $14.1 Million Initial Public Offering and Full Exercise of Underwriter’s Over-Allotm...
July 06 2021 - 10:17PM
via NewMediaWire -- The Glimpse Group, Inc. (NASDAQ: VRAR)
(“Glimpse” or the “Company”), a diversified Virtual Reality and
Augmented Reality (“VR” and “AR”) platform company providing
enterprise-focused VR and AR software & services solutions,
today announced the closing of an underwritten initial public
offering of 2,012,500 shares of common stock, which included the
full exercise of the underwriter’s over-allotment option, at a
public offering price of $7.00 per share for gross proceeds of
approximately $14.1 million, prior to deducting underwriting
discounts, commissions, and other offering expenses.
The Company’s common stock began trading on the
Nasdaq Capital Market under the symbol “VRAR” on July 1, 2021.
EF Hutton, division of Benchmark Investments,
LLC acted as sole book-running manager for the offering.
A registration statement relating to these
securities was declared effective by the Securities and Exchange
Commission on June 30, 2021. A final prospectus relating to this
offering was filed with the SEC. The offering was made only by
means of a prospectus. Copies of the final prospectus may be
obtained from: EF Hutton, division of Benchmark Investments LLC,
590 Madison Avenue, 39th Floor, New York, NY 10022, Attention:
Syndicate Department, or via email at syndicate@efhuttongroup.com
or telephone at (212) 404-7002.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About The Glimpse Group, Inc.
The Glimpse Group (NASDAQ: VRAR) is a
diversified Virtual and Augmented Reality platform company,
comprised of multiple VR and AR software & services companies,
and designed with the specific purpose of cultivating companies in
the emerging VR/AR industry. Glimpse's unique business model
simplifies challenges faced by VR/AR companies and creates a robust
ecosystem, while simultaneously providing investors an opportunity
to invest directly into the emerging VR/AR industry via a
diversified platform. For more information on The Glimpse Group,
please visit www.theglimpsegroup.com
Safe Harbor Statement
This press release does not constitute an offer
to sell or a solicitation of offers to buy any securities of any
entity. This press release contains certain forward-looking
statements based on our current expectations, forecasts and
assumptions that involve risks and uncertainties. Forward-looking
statements in this release are based on information available to us
as of the date hereof. Our actual results may differ materially
from those stated or implied in such forward-looking statements,
due to risks and uncertainties associated with our business.
Forward-looking statements include statements regarding our
expectations, beliefs, intentions or strategies regarding the
future and can be identified by forward-looking words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,”
“may,” “should,” and “would” or similar words. All forecasts are
provided by management in this release are based on information
available at this time and management expects that internal
projections and expectations may change over time. In addition, the
forecasts are entirely on management’s best estimate of our future
financial performance given our current contracts, current backlog
of opportunities and conversations with new and existing customers
about our products and services. We assume no obligation to update
the information included in this press release, whether as a result
of new information, future events or otherwise.
Company Contact:
Maydan RothblumCFO & COOThe Glimpse Group,
Inc.(917) 292-2685maydan@theglimpsegroup.com
Investor Relations:
Mark SchwalenbergDirectorMZ Group – North
America312-261-6430Glimpse@mzgroup.uswww.mzgroup.us
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