Cowen, Stifel, Needham and Northland Securities assisted with offering
By Devika Patel
Knoxville, Tenn., June 4 - Glu Mobile Inc. said the underwriters for its initial public offering of common stock opted to exercise the deal's $4.5 million greenshoe in full for total proceeds of $34.51 million. The offering was announced May 29 and priced for $30.01 million with the greenshoe on May 30.
The company sold 9,861,250 common shares at $3.50 per share. The price per share is a 13.79% discount to the May 29 closing share price of $4.06. Of the shares, 1,286,250 were part of the fully exercised greenshoe.
Cowen and Co., LLC and Stifel were the joint bookrunning managers.
Proceeds will be used for working capital and other general corporate purposes.
San Francisco-based Glu Mobile publishes games for mobile devices.
| Issuer: | Glu Mobile Inc.
|
| Issue: | Common stock
|
| Amount: | $34,514,375 (including $4,501,875 greenshoe)
|
| Shares: | 9,861,250
|
| Price: | $3.50
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co., LLC and Stifel
|
| Co-managers: | Needham & Co. and Northland Securities, Inc.
|
| Announcement date: | May 29
|
| Pricing date: | May 30
|
| Settlement date: | June 4
|
| Stock symbol: | Nasdaq: GLUU
|
| Stock price: | $4.06 at close May 29
|
| Market capitalization: | $292.74 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
