Published , by Donovan Erskine
Published , by Donovan Erskine
Markets have closed for the day and GameStop (GME) has provided an update on its business. Last week, GameStop filed to the SEC to sell up to 75 million shares of its stock, which has seen a sizable boom under the return of Keith “Roarking Kitty” Gill. Now, GameStop has completed its secondary offering, netting $2.137 billion in cash for the gaming retailer.
GameStop shared a press release today to announce the sale of its stock.
GameStop disclosed on June 7, 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 75,000,000 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 $2.137 billion.
GameStop made an SEC filing to sell up to 75 million shares of its stock on Friday. This came after the stock saw a lot of action in the wake of the return of Keith “Roaring Kitty” Gill on social media. Last week, Gill held his first YouTube livestream in over three years, reeling in hundreds of thousands of live viewers.
GameStop’s balance sheet now includes over $4 billion in cash. For more GameStop news, please stick with us here on Shacknews.