GameStop Corp (NYSE:GME) raised over $2.1 billion of new cash from its at-the-market share sale earlier this month, after its stock was boosted by social media posts from 'meme stock' trader known as Roaring Kitty.
The Texas-headquartered video games retailer told investors last week that it had issued the appropriate filing with the US financial regulator to sell up to 75 million shares on the open market.
In the event, GameStop sold this maximum number of shares, making gross proceeds before commissions and expenses of $2.137 billion.
It said it intends to use the proceeds for general corporate purposes, potentially including acquisitions and investments.