GameStop Completes At-The-Market Equity Offering Program
GameStop Corp. (NYSE: GME) has completed its previously announced 'at-the-market' equity offering program. The company successfully sold 20,000,000 shares of its common stock, raising aggregate gross proceeds of approximately $400 million before commissions and offering expenses. This follows GameStop's September 10, 2024 filing of a prospectus supplement with the U.S. Securities and Exchange Commission for the ATM Program.
The company plans to use the net proceeds for general corporate purposes, which may include acquisitions and investments. This move represents a significant capital raise for GameStop, potentially strengthening its financial position and providing resources for future growth initiatives.
GameStop Corp. (NYSE: GME) ha completato il suo programma di offerta azionaria 'at-the-market' precedentemente annunciato. L'azienda ha venduto 20.000.000 di azioni del suo capitale sociale, raccogliendo proventi lordi complessivi di circa 400 milioni di dollari prima delle commissioni e delle spese di offerta. Questo segue la presentazione da parte di GameStop, il 10 settembre 2024, di un supplemento di prospetto presso la Securities and Exchange Commission degli Stati Uniti per il Programma ATM.
L'azienda prevede di utilizzare i proventi netti per scopi aziendali generali, che possono includere acquisizioni e investimenti. Questa mossa rappresenta una significativa raccolta di capitali per GameStop, potenzialmente rafforzando la sua posizione finanziaria e fornendo risorse per future iniziative di crescita.
GameStop Corp. (NYSE: GME) ha completado su programa de oferta de acciones 'at-the-market' previamente anunciado. La compañía vendió 20,000,000 acciones de su capital social, recaudando ingresos brutos totales de aproximadamente 400 millones de dólares antes de comisiones y gastos de oferta. Esto sigue a la presentación de GameStop, el 10 de septiembre de 2024, de un suplemento de prospecto ante la Comisión de Bolsa y Valores de EE. UU. para el Programa ATM.
La compañía planea usar los ingresos netos para propósitos corporativos generales, que pueden incluir adquisiciones e inversiones. Este movimiento representa una importante recaudación de capital para GameStop, lo que podría fortalecer su posición financiera y proporcionar recursos para futuras iniciativas de crecimiento.
GameStop Corp. (NYSE: GME)는 이전에 발표된 '시장 내' 주식 공모 프로그램을 완료했습니다. 회사는 20,000,000주의 보통주를 성공적으로 판매하여 대략 4억 달러의 총 매출을 올렸습니다 (수수료 및 공모 비용 제외). 이는 게임스톱이 2024년 9월 10일 ATM 프로그램을 위한 보충 설명서를 미국 증권 거래 위원회에 제출한 데 따른 것입니다.
회사는 순수익을 일반 기업 목적에 사용할 계획입니다, 이는 인수 및 투자 등을 포함할 수 있습니다. 이번 조치는 GameStop에 중요한 자본 조달을 의미하며, 미래 성장 이니셔티브를 위한 자원을 제공하여 재무 상태를 강화할 수 있습니다.
GameStop Corp. (NYSE: GME) a terminé son programme d'offre d'actions 'at-the-market' précédemment annoncé. La société a vendu 20 000 000 d'actions de son capital ordinaire, générant des recettes brutes totales d'environ 400 millions de dollars avant les commissions et les frais d'offre. Cela fait suite à la soumission par GameStop, le 10 septembre 2024, d'un supplément de prospectus auprès de la Securities and Exchange Commission des États-Unis pour le programme ATM.
La société prévoit de utiliser les produits nets à des fins corporatives générales, ce qui peut inclure des acquisitions et des investissements. Ce mouvement représente une augmentation significative de capital pour GameStop, renforçant potentiellement sa position financière et fournissant des ressources pour de futures initiatives de croissance.
GameStop Corp. (NYSE: GME) hat sein zuvor angekündigtes 'at-the-market' Aktienangebot abgeschlossen. Das Unternehmen hat erfolgreich 20.000.000 Aktien seines Stammkapitals verkauft und brutto Einnahmen von etwa 400 Millionen US-Dollar vor Provisionen und Angebotskosten erzielt. Dies folgt auf die Einreichung von GameStop am 10. September 2024 eines Prospektergänzungsangebots bei der US-Wertpapier- und Börsenkommission für das ATM-Programm.
Das Unternehmen plant, die Nettoprognosen für allgemeine Unternehmenszwecke zu verwenden, die möglicherweise Akquisitionen und Investitionen umfassen. Dieser Schritt stellt eine signifikante Kapitalerhöhung für GameStop dar, die möglicherweise die finanzielle Position des Unternehmens stärkt und Ressourcen für zukünftige Wachstumsinitiativen bereitstellt.
- Successfully raised approximately $400 million through the ATM Program
- Sold the maximum number of shares (20,000,000) registered under the program
- Increased financial flexibility for potential acquisitions and investments
- Potential dilution of existing shareholders' equity due to the issuance of 20 million new shares
Insights
GameStop's completion of its $400 million at-the-market (ATM) equity offering is a significant financial move. By selling 20 million shares, the company has substantially bolstered its cash position, which could be important for its ongoing transformation efforts.
The successful execution of the ATM program demonstrates investor confidence and provides GameStop with financial flexibility. With a market cap of about
The company's intention to use proceeds for "general corporate purposes, including acquisitions and investments" suggests a strategic focus on growth and diversification. This could potentially accelerate GameStop's pivot towards e-commerce and digital initiatives, which are critical in the evolving gaming retail landscape.
Investors should monitor how GameStop allocates this capital, as it will be important in determining the long-term impact on the company's valuation and competitive position.
The completion of GameStop's ATM offering signifies a strategic move in the rapidly evolving gaming and entertainment market. By raising
The gaming market is experiencing significant shifts, with the rise of digital distribution, cloud gaming and the metaverse. GameStop's ability to secure substantial funding could enable it to invest in these areas, potentially transforming from a traditional brick-and-mortar retailer to a more diversified gaming and technology company.
However, the success of this strategy will depend on GameStop's execution. The company faces stiff competition from established tech giants and native digital platforms. Investors should closely watch for announcements regarding acquisitions or partnerships that could indicate GameStop's future direction and its ability to leverage this new capital effectively in a highly competitive and fast-moving market.
GRAPEVINE, Texas, Sept. 23, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has completed its previously disclosed “at-the-market” equity offering program (the “ATM Program”).
GameStop disclosed on September 10, 2024 that it filed a prospectus supplement with the U.S Securities and Exchange Commission to offer and sell up to a maximum amount of 20,000,000 shares of its common stock from time to time through the ATM Program. The Company sold the maximum number of shares registered under the ATM Program for aggregate gross proceeds (before commissions and offering expenses) of approximately
GameStop intends to use the net proceeds from the ATM Program for general corporate purposes, which may include acquisitions and investments.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS - SAFE HARBOR
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management’s current beliefs, views, estimates and expectations, including as to the Company’s industry, business strategy, goals and expectations concerning its market position, strategic and transformation initiatives, future operations, margins, profitability, sales growth, capital expenditures, liquidity, capital resources, expansion of technology expertise, and other financial and operating information, including expectations as to future operating profit improvement. Forward-looking statements are subject to significant risks and uncertainties and actual developments, business decisions, outcomes and results may differ materially from those reflected or described in the forward-looking statements. The following factors, among others, could cause actual developments, business decisions, outcomes and results to differ materially from those reflected or described in the forward-looking statements: economic, social, and political conditions in the markets in which we operate; the competitive nature of the Company’s industry; the cyclicality of the video game industry; the Company’s dependence on the timely delivery of new and innovative products from its vendors; the impact of technological advances in the video game industry and related changes in consumer behavior on the Company’s sales; interruptions to the Company’s supply chain or the supply chain of our suppliers; the Company’s dependence on sales during the holiday selling season; the Company’s ability to obtain favorable terms from its current and future suppliers and service providers; the Company’s ability to anticipate, identify and react to trends in pop culture with regard to its sales of collectibles; the Company’s ability to maintain strong retail and ecommerce experiences for its customers; the Company’s ability to keep pace with changing industry technology and consumer preferences; the Company’s ability to manage its profitability and cost reduction initiatives; turnover in senior management or the Company’s ability to attract and retain qualified personnel; potential damage to the Company’s reputation or customers' perception of the Company; the Company’s ability to maintain the security or privacy of its customer, associate or Company information; occurrence of weather events, natural disasters, public health crises and other unexpected events; risks associated with inventory shrinkage; potential failure or inadequacy of the Company's computerized systems; the ability of the Company’s third party delivery services to deliver products to the Company’s retail locations, fulfillment centers and consumers and changes in the terms the Company has with such service providers; the ability and willingness of the Company’s vendors to provide marketing and merchandising support at historical or anticipated levels; restrictions on the Company’s ability to purchase and sell pre-owned products; the Company’s ability to renew or enter into new leases on favorable terms; unfavorable changes in the Company’s global tax rate; legislative actions; the Company’s ability to comply with federal, state, local and international laws and regulations and statutes; potential future litigation and other legal proceedings; the value of the Company’s securities holdings; concentration of the Company’s investment portfolio into one or few holdings; the recognition of losses in a particular security even if the Company has not sold the security; volatility in the Company’s stock price, including volatility due to potential short squeezes; continued high degrees of media coverage by third parties; the availability and future sales of substantial amounts of the Company’s Class A common stock; fluctuations in the Company’s results of operations from quarter to quarter; the Company’s ability to generate sufficient cash flow to fund its operations; the Company’s ability to incur additional debt; risks associated with the Company’s investment in marketable, nonmarketable and interest-bearing securities, including the impact of such investments on Company’s financial results; and the Company’s ability to maintain effective control over financial reporting. Additional factors that could cause results to differ materially from those reflected or described in the forward-looking statements can be found in GameStop's most recent Annual Report on Form 10-K and other filings made from time to time with the SEC and available at www.sec.gov or on the Company’s investor relations website (https://investor.gamestop.com) . Forward-looking statements contained in this press release speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Contact
GameStop Corp. Investor Relations
(817) 424-2001
ir@gamestop.com
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