Glu Mobile -7.6% AH after announcing stock offering

|About: Glu Mobile Inc. (GLUU)|By:, SA News Editor

Glu (GLUU) hasn't yet disclosed the offering's size. Whatever it is, underwriters will have an overallotment option equal to 15% of offered shares. (prospectus)

Glu had $37M in cash at the end of Q1, and no debt. Last month, it announced plans to buy casual game developer PlayFirst for 3M shares and the assumption of $3.55M in debt.