May 24, 2024
GRAPEVINE, Texas, May 24, 2024 (GLOBE NEWSWIRE) – GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has completed its previously disclosed “at-the-market” equity offering program (the “ATM Program”).
GameStop disclosed on May 17, 2024 that it filed a prospectus supplement with the U.S Securities and Exchange Commission to offer and sell up to a maximum amount of 45,000,000 shares of its common stock from time to time through the ATM Program. The Company sold the maximum number of shares registered under the ATM Program for aggregate gross proceeds (before commissions and offering expenses) of approximately $933.4 million.
GameStop intends to use the net proceeds from the ATM Program for general corporate purposes, which may include acquisitions and investments.
welp, glad that is over and done with.
| Before ATM | After ATM (May 24) | |
|---|---|---|
| Shares outstanding (approx) | 305,000,000 | 350,000,000 |
| Cash on hand (approx) | $1 billion | $2 billion |
| DRS % of outstanding shares (approx 75 million DRS) | 24.7% | 21.4% |
