Friday September 20 ,2013 : MOBILE GAME DEVELOPER IN SUCCESSFUL PUBLIC OFFERING
Glu Mobile attracts $15.2 million in investment cash.
Mobile gambling games developer Glu Mobile reports that its public offering of shares in the company has raised $15.2 million in new capital.
This is ear-marked for "…working capital and other general corporate purposes, which may include growing Glu’s publishing business, further investment in the GluOn games-as-a-service technology platform and the acquisition of, or investment in, companies, technologies, products or assets that complement Glu’s business,” according to a company statement Friday.
A company spokesman revealed that 7,245,000 shares of common stock had been sold at $2.10 per share, leaving the company with around $14 million after expenses associated with the offer.
Canaccord Genuity acted as the sole book-running manager for the offering, which was managed by Needham & Company and Roth Capital Partners.