News

The Glimpse Group Announces Closing of $14.1 Million Initial Public Offering and Full Exercise of Underwriter’s Over-Allotment Option

SmallCaps Daily July 6, 2021

205 2 minutes read

NEW YORK – (NewMediaWire) – July 6, 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 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.