American specialty retailer GameStop Corp. generated some $1.126 billion from its at-the-market offering, the company announced in a statement.
- GameStop said it sold 5 million shares of common stock, the maximum offer it indicated in its prospectus filed with the Securities and Exchange Commission (SEC).
- The ATM equity offering program was completed on June 22. The prospectus supplement was filed June 9.
- GameStop intends to use proceeds of the offering for general corporate purposes. It will also spend on expansion programs and efforts to boost its balance sheet.
GameStop on Monday announced the appointment of Matt Furlong as part of the Board of Directors, aligning with his first day as Chief Executive Officer.
GME is up 7.59%.