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GameStop stock returns to pre-announcement levels by August 24?
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GameStop Completes $933M Equity Offering, Sells 45M Shares, Shares Surge 12% After Hours
May 24, 2024, 08:12 PM
GameStop Corp. (GME) has completed its 'at-the-market' equity offering program, selling 45 million shares for gross proceeds of approximately $933.4 million. This sale increased the total shares outstanding by about 15%. Following the announcement, GameStop's stock surged nearly 12% in after-hours trading. The company had previously traded through half the share count since the share offering announcement on May 17, 2024. Earlier, GameStop closed down 4.41% and saw a 10% squeeze on the stock offering into the weekend.
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