Glu Announces Proposed Public Offering of Common Stock
June 02 2020 - 4:15PM
Business Wire
Glu Mobile Inc. (NASDAQ: GLUU), a leading developer and
publisher of mobile games, today announced that it intends to offer
$100 million of its common stock in an underwritten public
offering. In addition, Glu expects to grant the underwriters a
30-day option to purchase up to an additional $15 million of its
common stock. All of the shares are being offered by Glu. The
offering is subject to market and other conditions and there can be
no assurance as to whether or when the offering may be completed,
or as to the actual size or terms of the offering.
Glu intends to use the net proceeds from the offering for
working capital and other general corporate purposes, which may
include potential acquisitions and strategic transactions. However,
Glu has not designated any specific uses and has no current
agreements with respect to any material acquisition or strategic
transaction.
Goldman Sachs & Co. LLC, Morgan Stanley and UBS Investment
Bank are acting as joint book-running managers for the proposed
offering. Cowen, Wedbush Securities and Roth Capital Partners are
acting as co-managers.
The public offering will be made pursuant to a shelf
registration statement, including a prospectus, on Form S-3 that
was filed by Glu with the Securities and Exchange Commission
(“SEC”) and became automatically effective upon filing on June 2,
2020. A preliminary prospectus supplement and accompanying
prospectus relating to and describing the terms of the offering
will be filed with the SEC and will be electronically available on
the SEC’s website at www.sec.gov. Before you invest, you should
read the preliminary prospectus supplement and accompanying
prospectus together with other documents that Glu has filed with
the SEC for more complete information about Glu and the offering.
When available, copies of the preliminary prospectus supplement and
the accompanying base prospectus may be obtained, from Goldman
Sachs & Co. LLC, Prospectus Department, 200 West Street, New
York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316
or by emailing Prospectus-ny@ny.email.gs.com, Morgan Stanley &
Co., LLC Prospectus Department, 180 Varick Street, 2nd Floor, New
York, New York 10014, telephone: 1-866-718-1649 (toll free) or by
emailing Prospectus@MorganStanley.com, or UBS Securities LLC, 1285
Avenue of the Americas, New York, NY 10019, Attn: Prospectus
Department, via telephone at 1-888-827-7275 or via email
ol-prospectus-request@ubs.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities of Glu, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About Glu Mobile
Glu Mobile (NASDAQ: GLUU) is a leading developer and publisher
of mobile games. Founded in 2001, Glu is headquartered in San
Francisco with additional locations in Foster City, Toronto and
Hyderabad. With a history spanning over a decade, Glu’s culture is
rooted in taking smart risks and fostering creativity to deliver
world-class interactive experiences for our players. Glu’s diverse
portfolio features top-grossing and award-winning original and
licensed IP titles including, Covet Fashion, Deer Hunter, Design
Home, Diner DASH Adventures, Disney Sorcerer’s Arena, Kim
Kardashian: Hollywood and MLB Tap Sports Baseball available
worldwide on various platforms including the App Store and Google
Play.
Covet Fashion, Deer Hunter, Design Home, Diner DASH, Tap Sports,
Glu and Glu Mobile are trademarks of Glu Mobile Inc.
Cautions Regarding Forward-Looking Statements
This press release contains “forward-looking” statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements Glu makes regarding its intention to conduct
an offering and the sale of Glu’s common stock, the grant of the
option to purchase additional shares, the ability to complete the
offering, the size and completion of, and the anticipated use of
the net proceeds from, the proposed offering. Statements including
words such as “anticipate,” “intend,” “plan,” “goal,” “seek,”
“believe,” “project,” “estimate,” “continue,” “expect,” “likely,”
“may”, “should,” “will,” or “ongoing” and all statements other than
statements of historical fact may be deemed to be forward-looking
statements. These forward-looking statements are subject to risks
and uncertainties that may cause Glu’s actual activities or results
to differ materially from those expressed or implied in such
forward-looking statements, including risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering; and those
factors described under the heading “Risk Factors” in documents Glu
files from time to time with the Securities and Exchange
Commission, including in Glu’s most recent Quarterly Report on Form
10-Q for the quarterly period ended March 31, 2020. These
forward-looking statements speak only as of the date of this press
release, and Glu undertakes no obligation to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this press release or to reflect new information or the
occurrence of unanticipated events, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200602005921/en/
Investor Relations: Bob Jones / Taylor Krafchik Ellipsis
IR@glu.com 646-776-0886
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