Glu Mobile Files Form 424B Prospectus Supplement with SEC Relating to Transfer of Warrant

  Glu Mobile Files Form 424B Prospectus Supplement with SEC Relating to
  Transfer of Warrant

 Glu reiterates that it has no current intention to raise additional capital

Business Wire

SAN FRANCISCO -- December 21, 2012

Glu Mobile Inc., a leading global developer and publisher of freemium games
for smartphone and tablet devices, today reiterated that it has no current
intention to raise additional capital through an offering of any kind. The
prospectus supplement that the company filed today with the Securities and
Exchange Commission related solely to the sale of a warrant to purchase
216,494 shares of Glu’s common stock that was issued in Glu’s August 2010
private placement transaction by the original warrant holder. Glu fulfilled
its contractual obligation under the private placement agreements to file a
prospectus supplement to name the new holder of the transferred warrant.

“As we stated during our last earnings conference call, we expect to reach
sustained profitability without access the equity capital markets or incur any
debt,” said Niccolo de Masi, Glu President and CEO. “We continue to anticipate
achieving an improvement in adjusted EBITDA during Q1 2013 from Q4 2012
guidance levels and with over $24 million in cash and no debt as of September
30^th, we have no need nor current intention to raise capital.”

Cautions Regarding Forward-Looking Statements

This news release contains forward-looking statements, including that we
anticipate reaching profitability without needing to access to additional
capital and that we continue to anticipate achieving an improvement in
adjusted EBITDA during Q1 2013 from Q4 2012 guidance levels. These
forward-looking statements are subject to material risks and uncertainties
that could cause actual results to differ materially from those in the
forward-looking statements. Investors should consider important risk factors,
which include: our cash usage in 2012 and 2013 may be greater than we
currently anticipate; the risk that consumer demand for smartphones, tablets
and next-generation platforms does not grow as significantly as we anticipate
or that we will be unable to capitalize on any such growth; the risk that we
do not realize a sufficient return on our investment with respect to our
efforts to develop freemium games for smartphones, tablets and next-generation
platforms; the risk that we will not be able to maintain our good
relationships with Apple and Google; the risk that our development expenses
for games for smartphones are greater than we anticipate; the risk that our
recently and newly launched games are less popular than anticipated; the risk
that our newly released games will be of a quality less than desired by
reviewers and consumers; the risk that the mobile games market, particularly
with respect to freemium gaming, is smaller than anticipated; and other risks
detailed under the caption "Risk Factors" in our Form 10-Q filed with the
Securities and Exchange Commission on November 9, 2012 and our other SEC
filings. You can locate these reports through our website at
http://www.glu.com/investors. We are under no obligation, and expressly
disclaim any obligation, to update or alter our forward-looking statements
whether as a result of new information, future events or otherwise.

About Glu Mobile

Glu Mobile (NASDAQ:GLUU) is a leading global developer and publisher of
freemium games for smartphone and tablet devices. Glu is focused on creating
compelling original IP games such as BLOOD & GLORY, DEER HUNTER, FRONTLINE
COMMANDO, GUN BROS, and SAMURAI VS. ZOMBIES DEFENSE on a wide range of
platforms including iOS, Android™, Windows Phone, Google Chrome and MAC OS.
Glu’s unique technology platform enables its titles to be accessible to a
broad audience of consumers globally. Founded in 2001, Glu is headquartered in
San Francisco with a major office outside Seattle, and international locations
in Brazil, Canada, China and Russia. Consumers can find high-quality
entertainment wherever they see the ‘g’ character logo or at www.glu.com. For
live updates, please follow Glu via Twitter at www.twitter.com/glumobile or
become a Glu fan at www.facebook.com/glumobile.

BLOOD & GLORY, DEER HUNTER, FRONTLINE COMMANDO, GUN BROS, SAMURAI VS. ZOMBIES
DEFENSE, GLU, GLU MOBILE and the 'g' character logo are trademarks of Glu
Mobile Inc.

Contact:

Media & Investor Relations:
ICR, Inc.
Seth Potter, 646-277-1230
ir@glu.com
 
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