Business
The Glimpse Group Announces Pricing of $1.845 Million Investment As It Transitions Into A Physical AI Company
NEW YORK, NY / ACCESS Newswire / May 15, 2026 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:GGRP), a diversified Immersive Technology platform company
About this update from The Glimpse Group, Inc.
[{"type":"text","content":"NEW YORK, NY / ACCESS Newswire / May 15, 2026 / The Glimpse Group, Inc. (\"Glimpse\") (NASDAQ:GGRP), a diversified Immersive Technology platform company providing enterprise-focused Immersive Technology, Spatial Computing and Artificial Intelligence (\"AI\") driven software and services, announced today the pricing of a registered direct offering of $1.845 million to support its strategic shift into a physical AI focused company.Offering Terms: (i) 622,306 shares of its common stock, (ii) pre-funded warrants to purchase up to 2,732,240 shares of its common stock, and (iii) accompanying warrants to purchase up to 4,193,182 shares of common stock. The combined public offering price of each share of common stock and accompanying warrant to purchase common stock is $0.55. For investors who elect to purchase pre-funded warrants in lieu of common stock, the combined public offering price for each pre-funded warrant and accompanying warrant to purchase common stock is $0.549, which equals the combined price at which shares of common stock and accompanying warrants to purchase common stock are being sold in the offering, minus $0.001, the per share exercise price of each pre-funded warrant. All of the securities being sold in the offering are being sold by Glimpse directly to the investors in the offering, without any placement agent or underwriter. The offering is expected to close on or about May 18, 2026, subject to the satisfaction of customary closing conditions.The gross proceeds to Glimpse from the offering, before estimated offering expenses, are expected to be approximately $1.79 million. If all of the pre-funded warrants and warrants to purchase common stock sold in the offering were to be exercised in cash at their respective exercise prices, Glimpse would receive additional gross proceeds of approximately $2.3 million, before deducting expenses.Glimpse intends to use the net proceeds from the proposed offering for general corporate purposes and working capital relating to the business of its subsidiary, Brightline Interactive, Inc.Glimpse has not retained a placement agent or underwriter in connection with the offering.The shares of common stock, pre-funded warrants and accompanying warrants to purchase common stock, and the shares of common stock issuable upon exercise of the pre-funded warrants and the warrants to purchase...