GlassBridge Enterprises, formerly known as Imation Corporation, is a U.S. publicly-owned company focused on its alternative asset management platform. The Company’s wholly-owned subsidiary, GlassBridge Asset Management, is a registered investment advisor focused primarily on technology-driven and quantitative strategies.

Clinton Group, Inc. is a multi-strategy investment manager, managing separate client-focused portfolios and investing in public equity and fixed income markets. The firm, founded in 1991 and based in New York City, employs a long/short equity strategy that employs a combination of fundamental and quantitative analysis to create its portfolios.

This transaction allowed GlassBridge to effectuate its strategic transformation into a publically-owned alternative asset manager whose funds will have access to investment capacity of up to $1 billion under its sub-advisor agreement with the Clinton Group for an initial term of five years, in exchange for the issuance of up to 15 million shares of GlassBridge common stock in lieu of payment of cash management fees. Glassbridge’s funds initially will be managed, initially, in conjunction with Clinton’s quantitative equity strategy.