GameStop Announces ATM Financing Capped At $1.0 Billion And 3.5 Million Shares

It may have taken far longer than anyone anticipated, but GameStop Corp (NYSE: GME), whom has been the focus of WallStreetBets for months now, has finally announced it will be raising money. The company this morning announced an at-the-market financing that will be capped at a total of 3.5 million shares.

While the company phrased the offering as being capped on a share-count basis, the firm also indicated that the financing is not to exceed a total of $1.0 billion in gross proceeds. The offering is to be conducted through that of Jefferies LLC, with common shares of the issuer sold directly on the New York Stock Exchange to investors.

Net proceeds from the financing are to be used to “further accelerate its transformation,” as well as to strengthen its balance sheet and for general corporate purposes. Specifics on timing for the raise were not provided.

GameStop last traded at $191.45 on the NYSE.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why Copper Juniors Could Explode After This Trade War Move | Christian Easterday – Hot Chili

Silver Is Rarer Than Gold, And the Market’s Waking Up | Shawn Khunkhun – Dolly Varden Silver

Gold Will Hit North of $4,000: Who’s Actually Producing? | Shane Williams – West Red Lake

Recommended

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Related News

Roaring Kitty Sued for Securities Fraud Over GameStop Stock Manipulation

Keith Gill, better known by his online aliases “Roaring Kitty” and “DeepF***ingValue,” has been sued...

Sunday, June 30, 2024, 09:50:00 PM

Shorts Get Burned: The Return Of GameStop

Well slap me across the ass and call me George, GameStop is running again. Roarin’...

Tuesday, May 14, 2024, 04:21:32 PM

GameStop Misses Q3 2023 Revenue Estimates As Cohen Secures Ability To Invest Company Cash As He Wishes

GameStop (NYSE: GME), the video game retailer, reported weak third-quarter financial results this week, missing...

Saturday, December 9, 2023, 09:14:00 AM

‘The Big Short’ Michael Burry Backtracks on GameStop Bullish Stance

The recent uprising of retail investors has crushed short-sellers in the US stock market, as...

Wednesday, January 27, 2021, 02:38:00 PM

GameStop’s Q3 2024 Profit Masks a Deeper Crisis as Sales Plunge 20%

GameStop Corp. (NYSE: GME) has released its financial results for the third quarter of fiscal...

Wednesday, December 11, 2024, 09:47:00 AM