21 million common shares will be sold to Red River at $6.00 per share
By Devika Patel
Knoxville, Tenn., April 29 – Glu Mobile Inc. negotiated a $126 million private placement of stock with Red River Investment Ltd. on April 29, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The investor will buy 21 million common shares at $6.00 per share. The price per share is an 8.7% premium to $0.92, the April 28 closing share price.
The company settled the first $75 million tranche on April 29, selling 12.5 million shares.
San Francisco-based Glu Mobile publishes games for mobile devices.
| Issuer: | Glu Mobile Inc.
|
| Issue: | Common stock
|
| Amount: | $126 million
|
| Shares: | 21 million
|
| Price: | $6.00
|
| Warrants: | No
|
| Investor: | Red River Investment Ltd.
|
| Pricing date: | April 29
|
| Settlement date: | April 29 (for $75 million)
|
| Stock symbol: | Nasdaq: ASTI
|
| Stock price: | $0.92 at close April 28
|
| Market capitalization: | $24.67 million
|
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