GameStop (GME) has completed its “at-the-market” equity offering program, raising more than $1 billion. GameStop stock rose 10% on Tuesday to close at $220.40. On June 9, the company revealed that it had filed a plan with the SEC to sell up to 5 million shares of its common stock. It said it would sell the shares at-the-market from time to time. The program was successful as the company managed to sell all the shares to raise $1.13 billion. GameStop intends to use the money to invest in growth and maintain a strong balance sheet. Headquartered in Texas, GameStop is a specialty retailer of games and entertainment products.
https://www.tipranks.com/news/gamestop-raises-over-1b-in-equity-offering-stock-jumps-10
GameStop (NYSE:GME)
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