Captivision Announces New Global Leadership
March 25 2024 - 7:30AM
Captivision Inc. (NASDAQ: CAPT) today announced that Gary R.
Garrabrant has been appointed Chairman and Chief Executive Officer
of the company, effective immediately. Based in the U.S., Mr.
Garrabrant will lead the firm’s strategic direction, including
potential expansion in new geographies and promising sectors, chief
among them sports and entertainment. Based in Seoul, company
founder and former CEO Dr. Ho Joon Lee will lead Captivision’s
innovation team globally as Chief Technology Officer and will
continue to serve on the company’s Board of Directors.
“I am thrilled and privileged to lead Captivision as Chairman
and CEO as we capitalize on new growth opportunities globally,”
said Mr. Garrabrant. “We have successfully transitioned to a
Nasdaq-listed growth company with ground-breaking technology honed
over the past 10 years. We expect the future to reflect a growing
array of important partners, many of them stemming from
long-standing relationships. Under Dr. Lee’s leadership of
Captivision, and its predecessor company, he has created a company
with enormous potential. As Chief Technology Officer, he will
continue to be instrumental in developing and extending our
transformational technology.”
As previously disclosed, Ryan Littman is leading new business
activities globally as Chief Commercial Officer, based in Los
Angeles. Captivision is also pleased to announce London-based
Managing Director Dr. Orhan Ertughrul will lead activities in the
UK, Europe and the Middle East and Director Sanmukh Bawa, reporting
to Dr. Ertughrul, will lead activities in the Middle East. Anthony
Page continues as Chief Financial Officer and Alexander
Marcinkowski continues as Senior Vice President, Capital Markets,
based in Los Angeles.
“We expect our management team presence in the U.S. to expand
in-line with new business opportunities and are excited to hit the
ground running, propelling Captivision’s growth in the U.S. and
globally,” added Mr. Garrabrant.
About CaptivisionCaptivision is the inventor
and manufacturer of the world’s first media glass combining IT
building material and architectural glass. The product has a
boundless array of applications including entertainment media,
information media, cultural and artistic content as well as
marketing use cases. Captivision can transform any glass façade
into a transparent media screen with real time live stream
capability.
Captivision’s media glass and solutions have been implemented in
hundreds of locations globally across sports stadiums,
entertainment venues, casinos and hotels, convention centers,
office and retail properties and airports. Learn more at
http://www.captivision.com/.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. These forward-looking statements
include, without limitation, statements relating to expectations
for future financial performance, business strategies or
expectations for the Captivision Inc. (the “Company”) respective
businesses. These statements are based on the beliefs and
assumptions of the management of the Company. Although the Company
believe that its plans, intentions and expectations reflected in or
suggested by these forward-looking statements are reasonable, it
cannot assure you that it will achieve or realize these plans,
intentions or expectations. These statements constitute
projections, forecasts and forward-looking statements, and are not
guarantees of performance. Such statements can be identified by the
fact that they do not relate strictly to historical or current
facts. When used in this press release, words such as “anticipate”,
“believe”, “can”, “continue”, “could”, “estimate”, “expect”,
“forecast”, “intend”, “may”, “might”, “plan”, “possible”,
“potential”, “predict”, “project”, “seek”, “should”, “strive”,
“target”, “will”, “would” or the negative of such terms, and
similar expressions, may identify forward-looking statements, but
the absence of these words does not mean that a statement is not
forward-looking.
The risks and uncertainties include, but are not limited to: (1)
the ability to raise financing in the future and to comply with
restrictive covenants related to indebtedness; (2) the ability to
realize the benefits expected from the business combination and the
Company’s strategic direction; (3) the significant market adoption,
demand and opportunities in the construction and digital out of
home media industries for GLAAM’s products; (4) the ability to
maintain the listing of the Company’s ordinary shares and warrants
on Nasdaq; (5) the ability of GLAAM to remain competitive in the
fourth generation architectural media glass industry in the face of
future technological innovations; (6) the ability of GLAAM to
execute its international expansion strategy; (7) the ability of
GLAAM to protect its intellectual property rights; (9) the
profitability of GLAAM’s larger projects, which are subject to
protracted sales cycles; (10) whether the raw materials,
components, finished goods and services used by GLAAM to
manufacture its products will continue to be available and will not
be subject to significant price increases; (11) the IT, vertical
real estate and large format wallscape modified regulatory
restrictions or building codes; (12) the ability of GLAAM’s
manufacturing facilities to meet their projected manufacturing
costs and production capacity; (13) the future financial
performance of the Company and GLAAM; (14) the emergence of new
technologies and the response of our customer base to those
technologies; (15) the ability of the Company and GLAAM to retain
or recruit, or to effect changes required in, their respective
officers, key employees or directors; (16) the ability of the
Company and GLAAM to comply with laws and regulations applicable to
its business; and other risks and uncertainties set forth under the
section of the prospectus included in the Registration Statement
Form F-1 (File No. 333-276243) entitled “Risk Factors.”
These forward-looking statements are based on information
available as of the date of this press release and the Company’s
management team’s current expectations, forecasts and assumptions,
and involve a number of judgments, known and unknown risks and
uncertainties and other factors, many of which are outside the
control of the Company and its directors, officers and affiliates.
Accordingly, forward-looking statements should not be relied upon
as representing the Company management team’s views as of any
subsequent date. The Company does not undertake any obligation to
update, add or to otherwise correct any forward-looking statements
contained herein to reflect events or circumstances after the date
they were made, whether as a result of new information, future
events, inaccuracies that become apparent after the date hereof or
otherwise, except as may be required under applicable securities
laws.
Media Contact:Dukas Linden Public Relations T:
212-704-7385captivision@dlpr.com
Investor Contact:Gateway GroupCody Slach or
Jackie KeshnerT: 949-574-3860CAPT@gateway-grp.com
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