Glu Mobile Closes $34.5 Million Public Offering of Common Stock
June 04 2014 - 3:05PM
Business Wire
Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and
publisher of free-to-play games for smartphone and tablet devices,
announced the closing of an underwritten public offering of
9,861,250 shares of its common stock at $3.50 per share for gross
proceeds of approximately $34.5 million. The aggregate amount of
common shares sold reflects the exercise in full by the
underwriters of their option to purchase up to 1,286,250 additional
shares of common stock to cover overallotments.
Glu received net proceeds of approximately $32.4 million from
the sale of common stock, after deducting the underwriting
discounts and estimated offering expenses. Glu intends to use the
net proceeds from the offering for working capital and other
general corporate purposes, including the acquisition of, or
investment in, companies, technologies, products or assets that
complement Glu’s business.
Cowen and Company, LLC and Stifel acted as the joint
book-running managers for the offering and Needham & Company
and Northland Securities, Inc. acted as co-managers for the
offering.
The offering was made pursuant to an effective shelf
registration statement previously filed with the Securities and
Exchange Commission (SEC). A final prospectus supplement and
accompanying prospectus describing the terms of the offering were
filed with the SEC. Before investing in Glu, you should read the
prospectus supplement and the accompanying prospectus, and other
documents that Glu has filed or will file with the SEC, for
information about Glu Mobile and this offering.
Copies of the final prospectus supplement and accompanying
prospectus relating to the offering may be obtained by contacting
Cowen and Company, LLC, c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus
Department, or by calling (631) 274-2806), or Stifel, Attention:
Prospectus Dept., One Montgomery Street, Suite 3700, San Francisco,
California 94104, or by calling (415) 364-2720. The final
prospectus supplement and accompanying prospectus are also
available on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the securities, nor shall
there be any sale of these securities, in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
Forward-Looking Statements
This press release contains certain "forward-looking statements"
related to the businesses of Glu Mobile Inc., which can be
identified by the use of forward-looking terminology such as
"believes," "expects," "plans" or similar expressions, including
expectations regarding the planned use of the net proceeds from the
offering. Such forward-looking statements involve known and unknown
risks and uncertainties, including, but not limited to, the
anticipated use of the proceeds of the offering, which could change
as a result of market conditions or for other reasons, and the
impact of general economic, industry or political conditions in the
United States or internationally. Certain of these risks and
uncertainties are or will be described in greater detail in our
public filings with the SEC. Glu is not under obligation to (and
expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
Investor Relations Contact:ICR, Inc.Seth Potter,
646-277-1230ir@glu.com
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