Gloo (NASDAQ: GLOO) announced the July 10 closing of its underwritten public offering of 7 million shares of Class A common stock at $3.25 per share, generating gross proceeds of $22.75 million before underwriting discounts, commissions and estimated offering expenses. The company granted underwriters a 30-day option to purchase up to an additional 1.05 million shares, which could increase total gross proceeds to approximately $26.16 million.
Gloo said it intends to use the net proceeds for general corporate purposes, including acquisitions, investments, working capital, operating expenses and capital expenditures. Scott Beck, Pat Gelsinger and certain other board members and affiliated entities purchased approximately $6 million of shares in the offering. Citizens Capital Markets served as lead book-running manager, Roth Capital Partners served as book-running manager and Benchmark and Loop Capital Markets acted as co-managers.
To view the full press release, visit https://ibn.fm/NZCpW
About Gloo
Gloo (NASDAQ: GLOO) is a leading technology platform serving the faith and flourishing ecosystem. Gloo helps missional organizations amplify their impact by powering their technology and expanding their reach, so that people flourish and organizations thrive. The company’s values-aligned AI platform modernizes systems, workflows and data, while its marketing and donor solutions expand reach, awareness and long-term giving for mission-based organizations. Based in Boulder, Colorado, Gloo serves over 140,000 faith, ministry, and nonprofit leaders.
For more information, visit https://gloo.com/
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