GLUU Glu Mobile Inc

On April 29, 2021, pursuant to the terms of the previously disclosed Agreement and Plan of Merger, dated February 8, 2021 (the “Merger Agreement”), by and among Glu Mobile Inc., a Delaware corporation (the “Company”), Electronic Arts Inc. (“Parent”), a Delaware corporation, and Giants Acquisition Sub, Inc. (“Merger Sub”), a Delaware corporation and wholly owned subsidiary of Parent, Merger Sub merged with and into the Company (the “Merger”). At the effective time of the Merger (the “Effective Time”), the Company became a wholly owned subsidiary of Parent (the “Surviving Corporation”).

Pursuant to the terms and subject to the conditions of the Merger Agreement, at the Effective Time, each outstanding share of the Company’s common stock, par value $0.0001 per share (“Common Stock” and each share thereof, a “Share”), was automatically cancelled, and each Share (other than (i) shares held by Parent, Merger Sub, the Company (including treasury shares) or any of their respective wholly owned subsidiaries and (ii) shares held by any stockholder who was entitled to demand and properly demanded appraisal for such shares of Company Common Stock in accordance with, and who complies in all respects with, Section 262 of the General Corporation Law of the State of Delaware) was automatically converted into the right to receive $12.50 in cash, without interest and subject to any required withholding of taxes (the “Merger Consideration”).

Each Share underlying a Company stock option that was vested, unexpired, unexercised and outstanding as of the Effective Time was cancelled and automatically converted into the right to receive the difference between the Merger Consideration and the applicable per share exercise price, without interest and less any applicable tax withholdings. Each Share underlying a Company restricted stock unit that was vested, unexpired, unsettled and outstanding as of the Effective Time was cancelled and automatically converted into the right to receive the Merger Consideration, without interest and less any applicable tax withholdings. Unvested Company stock options and unvested Company restricted stock units held by continuing Company employees were assumed by Parent and converted into corresponding awards relating to a number of shares of common stock of Parent in accordance with the formula in the Merger Agreement, with substantially identical terms and conditions as were applicable to the corresponding Company awards immediately prior to the Effective Time, except as such terms and conditions were modified by the Merger Agreement. Each Company performance-based stock option and restricted stock unit that was unvested, unexpired, unexercised and outstanding as of the Effective Time for which the performance period had not been completed as of the Effective Time was, as of immediately prior to the Effective Time, deemed achieved at “target” (or the equivalent, as applicable) and converted to a time-based vesting schedule that corresponds to each performance period.

The aggregate consideration paid by Parent in the Merger to the Company’s stockholders was approximately $2.2 billion. The source of the funds for the consideration paid by Parent in the Merger was Parent’s existing cash and cash equivalents on hand.

The description of the Merger set forth above does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement, a copy of which was filed by the Company as Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 8, 2021, which is incorporated herein by reference.