Towerstream Corporation Announces Closing of Underwritten Offering of Common Stock

Towerstream TWER announced today the completion of its previously announced underwritten offering of 10,350,000 shares of its common stock, which includes 1,350,000 additional shares of its common stock pursuant to the full exercise of the over-allotment option, at a public offering price of $4.00 per share. The total gross proceeds of the offering were $41,400,000. After underwriting discounts and commissions and estimated offering expenses payable by Towerstream, net proceeds were approximately $38,800,000. Lazard Capital Markets LLC and Rodman & Renshaw, LLC acted as the joint book-running managers and Merriman Capital, Inc. acted as the co-manager for the offering.