Tomahawk, WI 06/02/2014 (Basicsmedia) – Glu Mobile Inc. (NASDAQ:GLUU), a global leader in developing and publishing free-to-play games for tablet devices and Smartphone, focused on creating myriad compelling IP games, seems to be in an acquisition-spree! Glu Mobile Inc. (NASDAQ:GLUU) has a 52 week high of $5.65 and a yearlong low of $2.10 per share; the company has a net market capitalization of 295.58 million.

Glu Acquires PlayFirst

Glu Mobile Inc. (NASDAQ:GLUU) announced that company has confirmed the acquisition of PlayFirst, the creators of Cooking Dash, Hotel Dash, Wedding Dash and Diner Dash. The CEO of GLUU, Niccolo de Masi, was excited and pleased as the company added PlayFirst to its family, and conjectures to deliver dash products to its worldwide audience.

Glu Issues Restricted Stocks

Glu Mobile Inc. (NASDAQ:GLUU) announced that it has issued restricted stocks covering 218,000 shares to its acquired PlayFirst employees. Each stock has been issued from GLUU’s 2008 Equity Inducement Plan, vested in a 4-year schedule – 25% of the shares are vested till May 15, 2015 and an additional quota of 6.25%, vested on a quarterly basis.

GLUU’s Compensation Committee has veritably adopted a plan approved for non-stockholders, to ensure apt stock options, granted as inducement materials for the new employees who join GLUU. Moreover, there is a requirement of a holistic public announcement pertaining to the equity awards according to the NASDAQ Rule 5635(c)(4).

A Public Offering

Further, the company stated on May 30, 2014 that it intends to issue around 8.57 million shares as public offering at $3.50/share. The underwriters have been granted a month’s period to buy 1.28 million shares to holistically cover over-allotments. The public offering is deemed to end on June 4.

Glu’s Expectations

Glu Mobile Inc. (NASDAQ:GLUU) expects to notch up total proceeds amounting nearly to $27.8 million and hopes to use it for myriad corporate purposes, investing in new acquisitions, utilizing innovative technologies, develop products and build newer assets, so as to complement business endeavors. Cowen and Company and Stifel act as joint book-runners to solicit this offering, whereas Northland Securities, Inc. and Needham & Company are the co-managers in this offering.

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