GameStop fell more than 5% in pre-market trading, completing the issuance of 75 million shares
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GameStop completed an on-market stock issuance of up to 75 million shares, raising a total of USD 2.137 billion. The issuance price was set at a premium of 180% over the recent low point of USD 10 per share. This sale increased the company's available cash, cash equivalents, and unrestricted cash to approximately USD 3.157 billion, which can be used for general corporate purposes and/or acquisitions. GameStop closed up nearly 23% on Tuesday, reversing the 12% decline on Monday. As of the time of writing, the stock was down 5.61% in pre-market trading
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