GameStop Corp (NYSE:). announced the successful completion of its at-the-market equity issuance (ATM) program.
The previously disclosed program included the sale of 45 million shares, allowing the company to raise approximately $933.4 million, excluding commissions and offering expenses.
GameStop shares rose 18.5% in after-hours trading on news.
The ATM program was first disclosed by GameStop on May 17, 2024, when the company filed a prospectus supplement with the U.S. Securities and Exchange Commission.
This filing stated GameStop’s intention to offer and sell up to 45,000,000 shares of its common stock over time.
GameStop has indicated that the net proceeds will be used for general corporate purposes. including potential acquisitions and investments.
