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GameStop raises $933M from stock sale

May 28, 2024


GameStop on Friday said it had raised $933.4 million from a stock sale.

The video game retailer said earlier this month it intended to sell up to 45 million shares of its common stock through an at-the-market offering, according to a filing with the U.S Securities and Exchange Commission. It sold all of those shares.

GameStop’s shares on the New York Stock Exchange were up as of mid-morning Tuesday, the first day of trading following the Memorial Day holiday weekend. The company said it intends to use the stock sale’s net proceeds for general corporate purposes, which could include acquisitions and investments.

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