GameStop Corp, the American video game, consumer electronics, and gaming merchandise Texas retailer, announced on Tuesday, June 10th, that it has finished its previously disclosed “at-the-market” equity offering program (the “ATM Program”).
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75,000,000 Shares of Common Stock for Sale
On June 7th, the company, which has its headquarters in Grapevine, Texas, filed a prospectus supplement with the U.S Securities and Exchange Commission to offer and sell up to a maximum amount of 75,000,000 shares of its common stock from time to time through the ATM Program.
GameStop Successful in Raising Just Over $2 Billion
The company, founded in 1984 by James McCurry and Gary M. Kusin, is the largest video game retailer worldwide.
According to reports, GameStop Corp aimed to raise roughly $2.14 billion in gross proceeds and use the net proceeds for general corporate purposes.
GameStop managed to sell the maximum number of shares registered under the ATM Program, totalling approximately $2.137 billion.
GameStop Stock Price Fell After Sales
On Wednesday June 12th, GameStop stock fell 1.3%, with the company having completed an equity offering.
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