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Glu Mobile announces $30 million public offering
Glu Mobile announces $30 million public offering
June 2, 2014 | By Mike Rose

June 2, 2014 | By Mike Rose
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Newsbrief: Glu Mobile has announced its intention for a proposed public offering, priced at approximately $30 million for 5.58 million shares of common stock.

The company expects to receive net proceeds of around $27.8 million from the offering, which is expected to close on June 4. Glu plans to use this cash intake to acquire more game studios and technologies.

Most recently Glu acquired PlayFirst, the casual game studio behind the popular Diner Dash franchise.

But investors appear wary of the public offering, as Glu's stock price has fallen by around 10 percent since the announcement -- and some ratings teams are advising investors to sell Glu stock.


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Nathan Mates
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While investors may not care too much, this is the same GLU Mobile that bought out Gamespy only to shut it down -- see http://gamasutra.com/view/news/217475/GameSpy_services_shutdown_w
ill_affect_50_EA_games.php . GLU's actions have inconvenienced many PC & Nintendo (all Wii, DS games) players. I sure wouldn't want to buy from a company that may treat their cuurent games as similarly disposable. If enough other people think similarly, that doesn't bode well for future sales. Or stock price.

Disclaimer: Iím still patching and supporting Battlezone II in my spare time, on my own dime. We were one of the earliest 3rd party users of the Gamespy SDK, and had a small (~200 active players per week) when GLU Mobile yanked support for BZ2 on 2012/10/08. I had to do an emergency rewrite and patch release to change over to RakNet for matchmaking, NAT Negotiation, etc.


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