Glu Mobile’s IPO Raises $84 Million; Market Cap of $327 Million

• Posted by Rafat Ali
• Wed 21 Mar 2007 09:26 PM

San Francisco-based mobile gaming firm Glu Mobile raised $84 million with an IPO that was priced within a forecast range. The 7.3 million share offering sold for $11.50 per share compared with a $10 to $12 per-share forecast range, according to an underwriter, reports Reuters. The offering price gives the company an initial market capitalization of about $327 million.
Release: The company has also granted the underwriters a 30-day option to purchase up to an additional 1,095,000 shares from Glu and certain selling stockholders. Glu’s common stock will be listed on the Nasdaq under the symbol “GLUU” and will begin trading on tomorrow.
Related:
-- Glu Mobile Seeks $80 Million In IPO
--Mobile Gaming Firm Glu Mobile Files For an IPO
--More on Glu Mobile’s IPO: Some Details From S-1
--More Glu Mobile IPO: iFone Acquisition Dispute; Salaries, Etc
--More Glu S-1 Details: To Continue Licensing Strategy, IPO Reveals Figures