GameStop has completed an at-par share sale, netting over $2.13 billion.

GameStop Completes At-The-Market Equity Offering Program (Official Website, June 11, 2024)

GRAPEVINE, Texas, June 11, 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 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 intends to use the net proceeds from the ATM Program for general corporate purposes, which may include acquisitions and investments.

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From Reddit’s r/WallStreetBets, GameStop was the stock that brought “stonk” into regular usage, even appearing now in the Merriam-Webster dictionary.