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Glimpse Group ( (VRAR) ) has issued an announcement.
The Glimpse Group has completed a registered direct offering with an institutional investor, raising approximately $7.29 million through the sale of common stock and pre-funded warrants. The net proceeds of $6.74 million will be used for general corporate purposes and working capital, aiding in the company’s growth strategy in the immersive technology sector. With the closing of this offering, Glimpse Group is well-capitalized with $8.5 million in cash, no corporate debt, and is poised for profitable operations, enhancing its position in the emerging immersive industry.
More about Glimpse Group
The Glimpse Group is a diversified Immersive Technology platform company that offers enterprise-focused Virtual Reality, Augmented Reality, and Spatial Computing software and services. It operates with a unique business model that builds scale and a robust ecosystem, providing investors with an opportunity to invest directly in the emerging immersive technology industry.
YTD Price Performance: 202.65%
Average Trading Volume: 2,648,361
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $62.16M
Learn more about VRAR stock on TipRanks’ Stock Analysis page.
