Gloo Prices 7 Mln Underwritten Public Offering At $3.25/Shr

(RTTNews) - Gloo Holdings, Inc. (GLOO), a vertical technology platform, on Wednesday priced its previously announced underwritten public offering of 7 million Class A common shares at $3.25 per share.

The offering is expected to close on July 10.

The offering is expected to raise gross proceeds of approximately $22.75 million.

The company granted the underwriters a 30-day option to purchase up to an additional 1.05 million Class A common shares at the public offering price.

The additional shares would generate gross proceeds of approximately $3.41 million before underwriting discounts and commissions, if the option is fully exercised.

The company intends to use the net proceeds for general corporate purposes, including acquisitions and investments in businesses, products, services or technologies, working capital, operating expenses and capital expenditures.

On Wednesday, Gloo Holdings closed trading 5.29% higher at $3.9800 on the Nasdaq. In the after-hours, the stock 9.55% lesser at $3.6000.