Gloo proposes public offering of 7 million Class A shares

Gloo Holdings, Inc. (Nasdaq: GLOO) has announced a proposed underwritten public offering of 7,000,000 shares of its Class A common stock, according to a press release from the Boulder, Colorado-based company.

In connection with the offering, Gloo expects to grant underwriters a 30-day option to purchase up to an additional 1,050,000 shares at the public offering price, less underwriting discounts and commissions.

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

Board members Scott Beck and Pat Gelsinger, along with certain other board members and their affiliated entities, have indicated interest in purchasing at least $6.0 million in shares at the public offering price.

Citizens Capital Markets is serving as lead book-running manager for the offering, with Roth Capital Partners acting as book-running manager. Benchmark, a StoneX Company, and Loop Capital Markets are serving as co-managers.

A registration statement relating to the securities has been filed with the Securities and Exchange Commission but has not yet become effective.

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