Glu Announces Pricing of Public Offering of Common Stock
June 03 2020 - 9:17PM
Business Wire
Glu Mobile Inc. (NASDAQ: GLUU), a leading developer and
publisher of mobile games, today announced the pricing of an
underwritten public offering of 15,000,000 shares of its common
stock at a public offering price of $9.25 per share. In addition,
Glu has granted the underwriters a 30-day option to purchase up to
an additional 2,250,000 shares of its common stock. All of the
shares are being offered by Glu. The offering is expected to close
on or about June 8, 2020, subject to customary closing
conditions.
Gross proceeds to Glu from the offering are expected to be
$138.75 million, excluding any exercise of the underwriters’ option
to purchase additional shares. 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 offering.
Cowen, Wedbush Securities and Roth Capital Partners are acting as
co-managers.
The public offering is being made pursuant to a shelf
registration statement 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 final 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. When
available, copies of the final prospectus supplement and the
accompanying 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 the sale of Glu’s common
stock, Glu’s ability to satisfy the customary closing conditions
and complete the offering, and the anticipated use of the net
proceeds from the 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 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/20200603005940/en/
Investor Relations: Bob Jones / Taylor Krafchik Ellipsis
IR@glu.com 646-776-0886
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