GameStop said on Friday it sold up to 45 million shares in an at-the-market share sale program for an aggregate gross proceeds of about $933.4 million, sending its shares up nearly 18 per cent in extended trading.
The struggling videogame retailer had earlier this month said it would sell shares to take advantage of the retail buying frenzy sparked by the return of “Roaring Kitty” Keith Gill, whose bullish calls on the company spurred the 2021 meme stock rally.
The company said it will use the shares for general corporate purposes.
