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BAM! Entertainment Completes $1,776,000 Offering of Common Shares and Warrants

BAM! Entertainment® (NASDAQ: BFUN), today announced that it had completed its previously announced sale of 1,850,000 shares of its common stock and warrants to purchase another 1,665,000 shares of its common stock, resulting in gross proceeds (assuming no exercise of the warrants) of $1,776,000 million, in a private offering to institutional and accredited investors. The Company also granted the investors additional investment rights to purchase an additional 1,665,000 shares of its common stock and warrants to purchase another 1,485,000 shares of its common stock.

As previously announced, the shares of common stock sold at the closing were issued at $0.96 per share, which is equal to 80% the 30-day moving average price per share through the date the agreement was signed. The warrants sold at the closing have a five-year term and are exercisable at $1.87 per share, which is equal to a premium of 110% of the closing bid price per share on the date the agreement was signed. The shares of common stock underlying the additional investment rights are purchasable at $0.96 per share and the warrants underlying the additional investment rights have a five year term and are exercisable at the greater of $1.87 or the market price of the company’s common stock on the date the additional investment right is exercised.

The additional investment rights are exercisable until 45 days business days after the effectiveness of a registration statement to be filed by the company covering the shares of common and warrants sold at on the closing. The company expects to use the net proceeds for general corporate purpose and working capital.

BAM! ENTERTAINMENT, INC.

Founded in 1999 and based in San Jose , California , BAM! Entertainment, Inc. is a developer, publisher and marketer of interactive entertainment software in North America and Europe . The company develops, obtains, or licenses properties from a wide variety of sources, including global entertainment and media companies, and publishes software for video game systems, wireless devices, and personal computers. The company’s common stock is publicly traded under the symbol BFUN.PK.

About WestPark Capital, Inc.

WestPark Capital, Inc. is a full service investment banking and securities brokerage firm that serves the needs of both private and public companies worldwide, as well as individual and institutional investors. WestPark is committed to forging lasting partnerships with emerging growth companies and the investors who back them. WestPark’s approach is to provide customized financial solutions for virtually any need. A complete range of investment banking and brokerage services is available to corporate and individual clients. WestPark’s corporate finance professionals have the depth of experience and resources to create integrated financing solutions for both private and public marketplaces. Additionally, WestPark offers an exceptional array of private client services through its dedicated group of financial consultants. WestPark Capital understands the importance of strong relationships in today’s dynamic business environment and welcomes the opportunity to leverage this power into success for its customers. For more information visit www.wpcapital.com.

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Contact:
Richard Rappaport
Anthony Pintsopoulos 
WestPark Capital, Inc. (310) 843-9300 
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www.wpcapital.com.

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