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Glu mobile has raised about $160m through Public Offering

WRITTEN BY | 04 Jun 2020
Glu mobile has raised about $160m through Public Offering
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

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Glu Mobile
  • Established in 2001

  • Headquarters — San Francisco, United States

  • Founded by — Scott Orr and Kristian Segerstrale

  • Mobile game developer and publisher

  • Latest earnings presentation Q3 2020