Gloo Holdings Prices 7 Million Share Secondary Offering at $3.25

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Summary · why it matters

Gloo Holdings priced a secondary offering of 7 million shares at $3.25 each, below the last closing price of $3.98. JPMorgan is the sole book-running manager for the deal. The pricing follows Benchmark's June 9 price target increase to $15 from $14 with a Buy rating, citing Gloo as an unchallenged leader in the faith and flourishing space. Gloo also reported first-quarter earnings per share of a loss of 21 cents, compared with estimates of a loss of 18 cents, and revenue of $41.5 million, exceeding the consensus of $36.0 million.

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JPMorgan Chase & Co
JPM
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JPMorgan is the sole book-running manager for the secondary offering, generating fee income.

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