Glu mobile has raised about $160m through Public Offering
? Public offering
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San Francisco-based casual mobile game publisher and developer Glu Mobile (NAS: GLUU) has raised about $160m in its secondary public offering
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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
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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
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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
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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
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In April 2016, Glu Mobile raised $126m by selling 14,6% stake to Tencent
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In February 2016, Tencent bought 4 million shares of Glu Mobile for $23.7m, raising its stake in the company to 21.5%
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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
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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
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In March 2020, Glu launched its new game Disney Sorcerer’s Arena — mobile RPG, based on famous Disney franchises
SOUCES: SEC, GLUMOBILE, NASDAQ, POCKETGAMER
