Gloo Launches Stock Offering; Shares Down Pre-Bell
MT Newswires Live
Jul 06
Gloo (GLOO) has initiated a proposed public offering of 7 million shares, the company said Monday.
Underwriters are expected to be granted a 30-day option to purchase up to 1.1 million additional shares.
Gloo plans to use the net proceeds from the offering for general corporate purposes.
Members of Gloo's board of directors have indicated their interest in purchasing at least $6 million worth of shares, the company said.
Shares of the company were down over 6% in recent premarket trading.
Price: 4.13, Change: -0.31, Percent Change: -6.89
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