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InterCloud Systems, Inc. Announces Closing Of Public Offering Of Common Stock And Warrants To Purchase Common Stock

RED BANK, N.J., Nov. 5, 2013 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (Nasdaq:ICLD) announced today that it has closed its previously announced underwritten public offering of 1,250,000 shares of its common stock at a price to the public of $4.00 per share and warrants to purchase up to an aggregate of 625,000 shares of common stock, with an exercise price of $5.00 per share. In addition, the underwriter exercised its over-allotment option to purchase an additional 93,750 warrants to purchase an additional 93,750 shares of common stock. InterCloud received gross proceeds from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by InterCloud, of approximately $5 million.

InterCloud will use the net proceeds from the offering for working capital and general corporate purposes.

Aegis Capital Corp. acted as the sole book-running manager for the offering.

A registration statement on Form S-1 relating to the offering was filed with the Securities and Exchange Commission and is effective. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC's web site at http://www.sec.gov, and may be obtained from the offices of Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

About InterCloud Systems, Inc.

InterCloud Systems, Inc. is a global single-source provider of value-added services for both corporate enterprises and service providers. InterCloud offers cloud and managed services, professional consulting services and voice, data and optical solutions to assist its customers in meeting their changing technology demands. Its engineering, design, installation and maintenance services support the build-out and operation of some of the most advanced enterprise, fiber optic, Ethernet and wireless networks. Additional information regarding InterCloud may be found on the InterCloud's website at www.intercloudsys.com.

Forward-Looking Statements

Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause the Company's actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in the Company's annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission.

CONTACT: Lawrence Sands, Senior Vice President
         561-988-1988

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