The Glimpse Group Announces the Closing of a $7.29 Million Registered Direct Offering; Proceeds to Accelerate Spatial Computing, AI and Immersive Capabilities and Support Customer Contracts Traction

NEW YORK, NY / ACCESSWIRE / December 23, 2024 / The Glimpse Group, Inc. (“Glimpse”) (NASDAQ:VRAR) (FSE:9DR), a multi-immersion technology platform company providing enterprise-based virtual reality (“VR”), augmented reality (“AR”) and spatial computing software and services, announced today that it has entered into a registered direct public offering with one institutional investor.

The offering consisted of the sale of 2.75 million shares of common stock and/or pre-funded warrants for aggregate proceeds of approximately $7.29 million at a price of $2.65 per share $0.001 exercise price.

Glimpse President and CEO Lyron Bentovim commented: “With this clean financing, we have approximately $8.5 million in cash, expected profitability, and a clean balance sheet with no corporate debt, convertible debt, or preferred equity. We are now well capitalized to continue our growth strategy in the emerging Immersive industry for”.

Kingswood Capital Partners: (WA:), acted as exclusive placement agent for the offering. The registered direct offering is expected to close on or about December 24, 2024. Kesse PLLC acted as securities advisor to the Company :

The securities described above are being offered pursuant to a shelf registration statement filed with the Securities and Exchange Commission (SEC) on October 27, 2022 (File No. 333-268027) and declared effective on November 30, 2022. Such securities may be offered is only through the prospectus, including the prospectus supplement that forms part of the applicable registration statement A prospectus accompanying the offering will be filed with the SEC.

When available, copies of the prospectus supplement relating to this registered direct offering, together with the accompanying prospectus, may be obtained at the SEC’s website at www.sec.gov or from Kingswood Capital Partners at https://kingswoodus.com/contact.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor is there any sale of these securities in any jurisdiction where such offer, solicitation or sale would be illegal pending registration or qualification under the securities laws of such jurisdiction;

About The Glimpse Group, Inc

Glimpse Group (NASDAQ: VRAR) is a diversified immersive technology platform company providing enterprise-focused virtual reality, augmented reality and spatial computing software and services. Glimpse’s unique business model creates scale and a robust ecosystem while enabling investors providing direct investment in this emerging industry through a diversified platform. For more information about The Glimpse Group, visit www.theglimpsegroup.com

Safe Harbor Statement

This press release is not an offer to sell or a solicitation of an offer to buy any securities of any entity. This press release may contain certain forward-looking statements based on our current expectations, projections and assumptions, which involve risks and uncertainties are based on information available to the Company as of the date hereof.Our actual results may differ materially from those expressed or implied in such forward-looking statements with respect to our business due to risks and uncertainties. Forward-looking statements, if made, include statements about our expectations, beliefs, intentions or strategies regarding the future and may be identified by forward-looking words such as “expect,” “believe,” “see,” ” may”, “expect”, “will”, “should” and “will” or similar words. All predictions, if provided, are based on based on currently available information, and management expects that internal projections and expectations may change over time. In addition, any projections, if provided, are based entirely on management’s best estimate of our future financial performance in light of our current contracts; current backlog of opportunities and conversations with new and existing customers about our products and services.We undertake no obligation to update the information contained in this press release, whether with new information, future events or otherwise.

Company Contact:

Maidan in Rotbl
CFO & COO
The Glimpse Group, Inc.
(917) 292-2685
maydan@theglimpsegroup.com

SOURCE: The Glimpse Group, Inc.

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