Glowpoint Announces Closing of Registered Direct Offering of Series B Convertible Preferred Stock

Glowpoint Announces Closing of Registered Direct Offering of Series B Convertible Preferred Stock

DENVER, Oct. 25, 2017 (GLOBE NEWSWIRE) -- Glowpoint, Inc. (?Glowpoint? or the ?Company?) (NYSE American:GLOW), a managed service provider of video collaboration and network applications, announced today the closing of its previously announced registered direct offering of 2,800 shares of Series B convertible preferred stock for total gross proceeds to the Company of $2,800,000. The shares of Series B convertible preferred stock were sold at a price equal to their stated value of $1,000 per share and are convertible into shares of the Company's common stock at a conversion price of $0.28 per share.

A shelf registration statement on Form S-3 (File No. 333-209013) relating to the shares of Series B convertible preferred stock offered was declared effective by the Securities and Exchange Commission (the "SEC") on January 28, 2016. The offering was made by means of a prospectus supplement and the accompanying prospectus. Copies of the final prospectus supplement and accompanying prospectus may be obtained by visiting EDGAR on the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other 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 other jurisdiction.

About Glowpoint
Glowpoint, Inc. (NYSE American:GLOW) is a managed service provider of video collaboration and network applications. Our services are designed to provide a comprehensive suite of automated and concierge applications to simplify the user experience and expedite the adoption of video as the primary means of collaboration. Our customers include Fortune 1000 companies, along with small and medium enterprises in a variety of industries. To learn more please visit www.glowpoint.com.

Forward looking and cautionary statements
Forward-looking statements in this press release and all other statements that are not historical facts, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2016. We make no representation or warranty that the information contained herein is complete and accurate and we have no duty to correct or update any information contained herein.

INVESTOR CONTACT:
Investor Relations
Glowpoint, Inc.
+1 303-640-3840
[email protected]
www.glowpoint.com