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GameStop Capitalizes on Surge With $1 Billion Share Sale Program

  • Game retailer trimmed losses after initial 14% drop Monday
  • Company also said total global sales jumped 18% in March
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GameStop to Offer Up to $1 Billion in Additional Shares
Updated on

GameStop Corp. is set to cash in on its 2021 surge after the company said it may sell up to $1 billion worth of additional shares in one of the largest at-the-market equity offerings ever announced for the retail sector.

The video game retailer erased an early 14% drop to close 2.4% lower in New York at $186.95. Jefferies will manage the offering of up to 3.5 million shares, according to a statement, and proceeds will be used to further accelerate its corporate transformation.