Rodman & Renshaw, LLC Announces Exercise of Over-Allotment Option of Underwritten Offering of Common Stock by Towerstream Corporation

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ:

) announced today the exercise of the over-allotment option granted to the underwriters to purchase 1,350,000 additional shares of common stock, at a public offering price of $4.00 per share, of Towerstream Corporation (Nasdaq:

). The over-allotment option was exercised in connection with Towerstream's previously announced underwritten offering of 9,000,000 shares of common stock, bringing gross proceeds from the offering to $41,400,000.