RTTNews | May 26, 2021 11:13AM EDT

11:13 Wednesday, May 26, 2021 (RTTNews.com) - Shares of Argentinian software company Globant S.A. (GLOB) are up 3 percent on Wednesday's trading.

The company recently said it plans to offer and sell 1 million common shares through an underwritten public offering. All the shares will be sold by the company itself.

Globant plans to use the proceeds from this offering for general corporate purposes, like working capital, operating expenses and capital expenditures. A certain portion of the proceeds will also be used to fund acquisitions, the company added.

The stock is at present trading at $223.68, up $7.54 or 3% on the NYSE. GLOB has traded between $130.92 and $244.72 during the past 52 weeks.

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