Glu Mobile Inc. (NASDAQ:GLUU) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01. This amendment does not modify or update any of the information or disclosures in the Original Form 8-K except to the extent set forth herein.
Item 2.01 Completion of Acquisition or Disposition of Assets.
Glu is filing this amendment on Form 8-K/A to report that, as of December 6, 2016, it has acquired the remainder of Crowdstar in a two-step process, and now has 50% ownership. In the first step, certain stockholders of Crowdstar (the “Drag Holders”) tendered their shares to Sub to the terms of the Transfer Agreement in accordance with the drag-along provisions specified in a voting agreement by and among Crowdstar, Time, Intel, and the Drag Holders. In the second step, Sub was merged with and into Crowdstar through a short-form merger under the laws of the State of Delaware, with Crowdstar continuing as the surviving entity and as a wholly-owned subsidiary of Glu (the “Merger”). Glu expects that once it completes payment to all former stockholders of Crowdstar to the Merger, it will have paid an aggregate of approximately $45.5 million, to the Share Purchase (including the purchase of the Drag Holders) and the Merger, to acquire 50% ownership of Crowdstar.
The above description of the Transfer Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Transfer Agreement, which is filed as Exhibit 2.01 to the Original Form 8-K.