GameStop Plans To Sell Up To 75M Shares Of Common Stock In Addition To 45M Shares Filed On May 17, 2024
Portfolio Pulse from Benzinga Newsdesk
GameStop Corp. has filed a prospectus supplement with the SEC to sell up to 75 million shares of its Class A common stock through Jefferies LLC. This is in addition to the 45 million shares already sold, raising approximately $933.4 million.
June 07, 2024 | 11:01 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
GameStop Corp. plans to sell up to 75 million shares of its Class A common stock, in addition to the 45 million shares already sold, raising approximately $933.4 million.
The announcement of selling up to 75 million additional shares is likely to dilute the value of existing shares, which could lead to a short-term decrease in the stock price. The previous sale of 45 million shares has already raised significant capital, but the market may react negatively to further dilution.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100