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Press release content from NewMediaWire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from NewMediaWire
Press release content from NewMediaWire. The AP news staff was not involved in its creation.

The Glimpse Group Announces Pricing of $12.3 Million Initial Public Offering and Nasdaq Listing Under Ticker Symbol ‘VRAR’

June 30, 2021 GMT

NEW YORK - ( NewMediaWire ) - June 30, 2021 - 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 pricing of an underwritten initial public offering of 1,750,000 shares of common stock at a public offering price of $7.00 per share for gross proceeds of approximately $12.3 million, prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 262,500 shares at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or about July 6, 2021, subject to satisfaction of customary closing conditions.

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The Company has received approval to list its common stock on the Nasdaq Capital Market under the symbol “VRAR”, with trading expected to begin on July 1, 2021.

EF Hutton, division of Benchmark Investments, LLC. is acting 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 will be filed with the SEC. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, 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

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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 Rothblum

CFO & COO

The Glimpse Group, Inc.

(917) 292-2685

maydan@theglimpsegroup.com

Investor Relations:

Mark Schwalenberg

Director

MZ Group – North America

312-261-6430

Glimpse@mzgroup.us

www.mzgroup.us