MIDDLETOWN – Towerstream Corp. (Nasdaq: TWER), a provider of fixed WiMax services, today announced an offering of $40 million in common stock.

The company said it has “definitive agreements with investors for the sale of 10 million shares … at a price of $4 per share.” The offering is expected to close Monday, June 11.

“We have spoken with many investors who understand the value of our WiMAX business,” said Jeff Thompson, Towerstream’s president and CEO. “We believe that there is a growing interest in the future of WiMAX and our position in the WiMAX marketplace.”

Lazard Capital Markets LLC served as lead placement agents for the offering, along with Canaccord Adams Inc. and Morgan Joseph & Co. Inc., Towerstream said.

“The proceeds from this offering will provide us with the capital to build out our target markets and solidify our position as a WiMAX leader,” Thompson said.

Towerstream Corp. (Nasdaq: TWER) is a provider of WiMax wireless broadband services to businesses in the New York, Chicago, Miami, Los Angeles, San Francisco, Seattle, Boston and Providence/Newport markets. Additional information is available at www.towerstream.com.