Gloo Holdings, Inc. (GLOO) on Monday commenced an underwritten public offering of 7 million shares of its Class A common stock.
The company expects to grant the underwriters a 30-day option to purchase up to an additional 1.05 million shares.
The company plans to use the net proceeds for general corporate purposes, including acquisitions and investments in businesses, products, services or technologies.
The remaining proceeds will be used for working capital, operating expenses and capital expenditures.
The company said Scott Beck, Pat Gelsinger and certain other board members and their affiliated entities have indicated interest in purchasing at least $6 million of Class A common stock in the offering.
In the pre-market trading, Gloo Holdings is 6.89% lesser at $4.1341 on the Nasdaq.
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