Glu Mobile (GLUU) Prices 15M Share Common Offering at $9.25/Sh

Glu Mobile Inc. (NASDAQ: GLUU) 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.

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