(RTTNews) – Gloo Holdings, Inc. (GLOO), a vertical technology platform, on Wednesday successfully priced its previously announced underwritten public offering of 7 million Class A common shares at $3.25 per share. The offering is anticipated to close on July 10, with gross proceeds expected to reach approximately $22.75 million.
The company has also granted underwriters a 30-day option to purchase up to an additional 1.05 million Class A common shares at the public offering price. Should the option be fully exercised, the additional shares could generate gross proceeds of approximately $3.41 million prior to underwriting discounts and commissions.
Net proceeds from the offering are intended for general corporate purposes, including potential acquisitions, investments in businesses, products, services, or technologies, as well as working capital, operating expenses, and capital expenditures.
On Wednesday, Gloo Holdings concluded trading on the Nasdaq 5.29% higher at $3.9800. In after-hours trading, the stock declined 9.55% to $3.6000.