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Rimini Street, Inc. Completes Merger with GP Investments Acquisition Corp.

Combined company retains Rimini Street, Inc. name, raises $50 million investment and begins trading today on Nasdaq under the ticker symbol “RMNI”

LAS VEGAS, October 11, 2017 Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced the closing of its merger with GP Investments Acquisition Corp. (“GPIAC”). The combined company will retain the Rimini Street, Inc. name, and its common stock will be listed on the Nasdaq exchange and begin trading today as “RMNI.”

The transaction consideration consisted of approximately 65.6 million shares of GPIAC common stock valued at $10.00 per share to Rimini Street’s equity holders. Raised investment funds of $50 million include cash proceeds from the issuance of 3.6 million shares of GPIAC common stock at $10.00 per share to an affiliate of GP Investments, Ltd., and a third round of equity participation by Rimini Street’s largest shareholder, Adams Street Partners. Investment proceeds were used to provide additional cash to the balance sheet, reduce total debt and pay certain transaction expenses.

The Rimini Street executive team, led by founder, CEO and chairman of the board of directors Seth A. Ravin, will continue to manage the combined company. In connection with the transaction, the Rimini Street board of directors has increased from seven members to nine members. Mr. Ravin and all current Rimini Street board members will continue their roles going forward, with the addition of Antonio Bonchristiano, CEO of GP Investments, Ltd., and Andrew Fleiss, managing director of GP Investments, Ltd., joining the board.

“Rimini Street has delivered 46 consecutive quarters of revenue growth by providing value-driven, innovative support solutions and exceptional service that meet the global needs of enterprise software licensees. With the completion of this merger and transition to being a publicly-traded stock, the combined business is better positioned to further capitalize on the $160 billion global addressable market for software maintenance and support,” said Mr. Ravin, Rimini Street CEO. “The Company intends to leverage the additional opportunities afforded by the merger, investment raise and access to capital markets to expand our distinctive service offerings and capabilities in new markets and regions organically or through potential strategic acquisitions.”

Advisors

Cowen served as financial and capital markets advisor to Rimini Street, and Citigroup Inc. acted as advisor to GPIAC. Wilson, Sonsini, Goodrich & Rosati, P.C. and Cooley LLP acted as legal counsel to Rimini Street, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to GPIAC.

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, more than 3,500 Fortune 500, Fortune Global 100, midmarket, public sector and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the duration of and economic, operational and financial impacts on Rimini Street’s business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt Rimini Street’s business or that of its current and prospective clients, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; Rimini Street’s need and ability to raise additional equity or debt financing on favorable terms and Rimini Street’s ability to generate cash flows from operations to help fund increased investment in Rimini Street’s growth initiatives; the sufficiency of Rimini Street’s cash and cash equivalents to meet its liquidity requirements; the terms and impact of Rimini Street’s outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of Rimini Street’s recently introduced products and services, including its Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services Rimini Street expects to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those risks discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on August 5, 2020 and as updated from time to time by other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

Investor relations contact:
Dean Pohl
Rimini Street, Inc.
+1 925 523-7636
dpohl@riministreet.com

Media relations contact:
Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
mmcglocklin@riministreet.com

© 2020 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

Investor Relations Contact
Dean Pohl

Rimini Street, Inc.

+1 925 523-7636 dpohl@riministreet.com
Media Relations Contact
Michelle McGlocklin

Rimini Street, Inc.

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