Glu Raises $13.5M In PIPE
San Mateo-based mobile games publisher Glu Mobile said Wednesday afternoon that it has raised $13.5M in a private placement. According to the firm, the investment came from ten existing stockholders, and ten new investors. The firm said that a certain number of its existing stockholders, who own 50.2% of its outstanding stock, have agreed to approve the financing. Those investors include Greenway Capital, GGV Capital and New Enterprise Associates. The firm said the investment will "significantly improve" the firm's capital structure. Glu is listed on the Nasdaq as GLUU.
posted on Wednesday, July 7, 2010
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