Glu Mobile Files Form 424B Prospectus Supplement with SEC Relating to Transfer of Warrant
Glu Mobile Inc., a leading global developer and publisher of freemium
games for smartphone and tablet devices, today reiterated that it has no
current intention to raise additional capital through an offering of any
kind. The prospectus supplement that the company filed today with the
Securities and Exchange Commission related solely to the sale of a
warrant to purchase 216,494 shares of Glu’s common stock that was issued
in Glu’s August 2010 private placement transaction by the original
warrant holder. Glu fulfilled its contractual obligation under the
private placement agreements to file a prospectus supplement to name the
new holder of the transferred warrant.
“As we stated during our last earnings conference call, we expect to
reach sustained profitability without access the equity capital markets
or incur any debt,” said Niccolo de Masi, Glu President and CEO. “We
continue to anticipate achieving an improvement in adjusted EBITDA
during Q1 2013 from Q4 2012 guidance levels and with over $24 million in
cash and no debt as of September 30th, we have no need nor
current intention to raise capital.”
Cautions Regarding Forward-Looking Statements
This news release contains forward-looking statements, including that we
anticipate reaching profitability without needing to access to
additional capital and that we continue to anticipate achieving an
improvement in adjusted EBITDA during Q1 2013 from Q4 2012 guidance
levels. These forward-looking statements are subject to material risks
and uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. Investors should consider
important risk factors, which include: our cash usage in 2012 and 2013
may be greater than we currently anticipate; the risk that consumer
demand for smartphones, tablets and next-generation platforms does not
grow as significantly as we anticipate or that we will be unable to
capitalize on any such growth; the risk that we do not realize a
sufficient return on our investment with respect to our efforts to
develop freemium games for smartphones, tablets and next-generation
platforms; the risk that we will not be able to maintain our good
relationships with Apple and Google; the risk that our development
expenses for games for smartphones are greater than we anticipate; the
risk that our recently and newly launched games are less popular than
anticipated; the risk that our newly released games will be of a quality
less than desired by reviewers and consumers; the risk that the mobile
games market, particularly with respect to freemium gaming, is smaller
than anticipated; and other risks detailed under the caption "Risk
Factors" in our Form 10-Q filed with the Securities and Exchange
Commission on November 9, 2012 and our other SEC filings. You can locate
these reports through our website at http://www.glu.com/investors.
We are under no obligation, and expressly disclaim any obligation, to
update or alter our forward-looking statements whether as a result of
new information, future events or otherwise.
About Glu Mobile
Glu Mobile (NASDAQ:GLUU) is a leading global developer and publisher of
freemium games for smartphone and tablet devices. Glu is focused on
creating compelling original IP games such as BLOOD & GLORY, DEER
HUNTER, FRONTLINE COMMANDO, GUN BROS, and SAMURAI VS. ZOMBIES
DEFENSE on a wide range of platforms including iOS, Android™,
Windows Phone, Google Chrome and MAC OS. Glu’s unique technology
platform enables its titles to be accessible to a broad audience of
consumers globally. Founded in 2001, Glu is headquartered in San
Francisco with a major office outside Seattle, and international
locations in Brazil, Canada, China and Russia. Consumers can find
high-quality entertainment wherever they see the ‘g’ character logo or
at www.glu.com.
For live updates, please follow Glu via Twitter at www.twitter.com/glumobile
or become a Glu fan at www.facebook.com/glumobile.
BLOOD & GLORY, DEER HUNTER, FRONTLINE COMMANDO, GUN BROS, SAMURAI VS.
ZOMBIES DEFENSE, GLU, GLU MOBILE and the 'g' character logo are
trademarks of Glu Mobile Inc.
