Glimpse Group acquires Brightline Interactive for up to $32.5M; 75% earn-out based on revenue milestones

Glimpse Group, Inc.

Total potential purchase price of $32.5M; initial $8M ($3M cash + $5M common shares) at close.
Up to $24.5M (75%) of consideration contingent on BLI achieving revenue growth milestones over three years.
BLI generated ~$5.0M revenue in 2021 (up 25% YoY); gross margins 50-55% with breakeven cash flow.
Deal expected to close Q3 2022; immediately accretive; Glimpse pro forma cash ~$16M post-close.
Tyler Gates (BLI CEO) will stay as GM and join Glimpse executive team as Chief Futurist and Board observer.

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