Glu Mobile Closes $15.2 Million Public Offering of Common Stock

Thomson Reuters ONE

Glu Mobile Closes $15.2 Million Public Offering of Common Stock

SAN FRANCISCO - September 17, 2013 - Glu Mobile Inc. (GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, announced the closing of an underwritten public offering of 7,245,000 shares of its common stock at $2.10 per share for gross proceeds of $15.2 million. The aggregate amount of common shares sold reflects the exercise in full by the underwriters of their option to purchase up to 945,000 additional shares of common stock to cover over-allotments.

Glu received net proceeds of approximately $14.0 million from the sale of common stock, after deducting the underwriters` discounts and other estimated offering expenses. The net proceeds from the offering will be used 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.

Canaccord Genuity Inc. acted as the sole book-running manager for the offering and Needham & Company, LLC and Roth Capital Partners, LLC acted as co-managers for the offering.

The offering was made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC). A final prospectus supplement and accompanying prospectus describing the terms of the offering were filed with the SEC. Any offer or sale will be made only by means of a prospectus supplement and accompanying prospectus forming a part of the effective registration statement. Before investing, 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.

Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by sending a request to the offices of Canaccord Genuity Inc., Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110 at (617) 371-3900. The final 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 businesses 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 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, 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.

SOURCE: Glu Mobile Inc.

Investor Relations Contact:
ICR, Inc.
Seth Potter, 646-277-1230
ir@glu.com




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Source: Glu Mobile Inc. via Thomson Reuters ONE

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