GameStop completes at-the-market fairness providing after elevating $1.126 billion, inventory jumps 9% premarket

GameStop Corp. GME, -6.29% mentioned Tuesday it has accomplished an at-the-market fairness providing after issuing 5 million shares to boost about $1.126 billion. The videogame retailer and main meme inventory mentioned it can use the proceeds for the catch-all basic company functions and for progress initiatives, whereas sustaining a wholesome stability sheet. The inventory jumped


GameStop Corp.
GME,
-6.29%

mentioned Tuesday it has accomplished an at-the-market fairness providing after issuing 5 million shares to boost about $1.126 billion. The videogame retailer and main meme inventory mentioned it can use the proceeds for the catch-all basic company functions and for progress initiatives, whereas sustaining a wholesome stability sheet. The inventory jumped 9% premarket and has gained 964% within the yr to this point, spurred on by Reddit subgroup WallStreetBets, who’re betting the corporate can restore its enterprise underneath new management. The S&P 500
SPX,
+1.40%

has gained 12.5% in the identical interval.



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