Glu mobile has raised about $160m through Public Offering
? Public offering
San Francisco-based casual mobile game publisher and developer Glu Mobile (NAS: GLUU) has raised about $160m in its secondary public offering
The company issued 15,000,000 shares of its common stock at a public offering price of $9.25 per share on June 03, 2020. The Company also granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of its common stock
Goldman Sachs, Morgan Stanley and UBS Securities acted as a Joint Book-Running Managers, and Cowen and Company, Wedbush Securities and Roth Capital Partners acted as a Co-Underwriters
The net proceeds to Glu Mobile from this offering are approximately $132m, after deducting underwriting discounts and commissions and other offering expenses payable by the Company
Glu Mobile intends to use the net proceeds from the offering for working capital and other general corporate purposes, including additional flexibility to pursue further potential strategic acquisitions
? Previous rounds
In April 2016, Glu Mobile raised $126m by selling 14,6% stake to Tencent
In February 2016, Tencent bought 4 million shares of Glu Mobile for $23.7m, raising its stake in the company to 21.5%
In June 2019, Tencent sold 7 million of shares of the Company for $56m, this reduced Tencent stake in Glu Mobile to 14.46%
? Products
Glu Mobile is a mobile publisher and developer with a vast portfolio of games, including Covet Fashion, Tap Sports Baseball, Deer Hunter, WWE Universe and the Dash franchise
In March 2020, Glu launched its new game Disney Sorcerer’s Arena — mobile RPG, based on famous Disney franchises
SOUCES: SEC, GLUMOBILE, NASDAQ, POCKETGAMER
