Glowpoint, Inc. Announces Closing of Second Tranche of its $3.75 Million Financing
GLOWPOINT (GLOW)
NASDAQ:AMEX Investor Relations:
glowpoint.com/company/investor-relations
Company Research
Source: Business Wire
DENVER--(BUSINESS WIRE)--Glowpoint, Inc. (NYSE American: GLOW) (“Glowpoint” or the “Company”), a provider, through its wholly-owned subsidiary, Oblong Industries, Inc., of innovative technologies that drive the next generation of visual and data collaboration, announced today that it has closed the second tranche of its previously announced private placement of Series E Convertible Preferred Stock (the “Series E Financing”) for approximately $1.24 million in gross proceeds.“The successful completion of our Series E Financing on December 18th at a significant premium relative to the market price demonstrates continued investor confidence regarding the substantial market opportunity the company has before it,” said Peter Holst, Chairman and CEO of Glowpoint.The Series E Convertible Preferred Stock issued in the second tranche of Glowpoint’s $3.75 million Series E Financing is automatically convertible into an aggregate of approximately 435,090 shares of Glowpoint’s common stock at a
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