Glu Mobile Announces Proposed Public Offering of Common Stock
30 May 2014 - 6:01AM
Glu Mobile Inc. (Nasdaq:GLUU), a leading global developer and
publisher of free-to-play games for smartphone and tablet devices,
today announced its intention to offer shares of its common stock
in an underwritten public offering. Glu expects to grant the
underwriters a 30-day option to purchase up to an additional 15% of
the shares of common stock offered in the public offering to cover
overallotments, if any. The offering is subject to market
conditions and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
Cowen and Company, LLC and Stifel are acting as the joint
book-running managers for the offering and Needham & Company
and Northland Securities, Inc. are acting as co-managers for the
offering. Glu expects to use the net proceeds from the offering for
working capital and other general corporate purposes, including the
acquisition of, or investment in, companies, technologies, products
or assets that complement Glu's business.
The offering is being made pursuant to an effective shelf
registration statement previously filed with the Securities and
Exchange Commission (SEC). A preliminary prospectus supplement and
accompanying prospectus describing the terms of the offering will
be filed with the SEC. Before investing in Glu, you should read the
prospectus supplement and the accompanying prospectus, and other
documents that Glu has filed or will file with the SEC, for
information about Glu Mobile and this offering.
When available, copies of the preliminary prospectus supplement
and accompanying prospectus relating to the offering may be
obtained by contacting Cowen and Company, LLC, c/o Broadridge
Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717,
Attn: Prospectus Department, or by calling (631) 274-2806), or
Stifel, Attention: Prospectus Dept., One Montgomery Street, Suite
3700, San Francisco, California 94104, or by calling (415)
364-2720. The preliminary prospectus supplement and accompanying
prospectus also will be available on the SEC's website at
www.sec.gov.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the securities, nor shall
there be any sale of these securities, in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
Forward-Looking Statements
This press release contains certain "forward-looking statements"
related to the business of Glu Mobile Inc., which can be identified
by the use of forward-looking terminology such as "believes,"
"expects," "plans" or similar expressions, including expectations
regarding the completion of and anticipated proceeds from the
proposed public offering, and the planned use of such proceeds.
Such forward-looking statements involve known and unknown risks and
uncertainties, including, but not limited to, whether or not Glu
will offer shares of its common stock or consummate the offering,
the final terms of the offering, which could differ based upon
market conditions, the anticipated use of the proceeds of the
offering, which could change as a result of market conditions or
for other reasons, and the impact of general economic, industry or
political conditions in the United States or internationally.
Certain of these risks and uncertainties are or will be described
in greater detail in our public filings with the SEC. Glu is not
under obligation to (and expressly disclaims any such obligation
to) update or alter its forward-looking statements whether as a
result of new information, future events or otherwise.
CONTACT: Investor Relations Contact:
ICR, Inc.
Seth Potter, 646-277-1230
ir@glu.com
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