(Reuters) – GameStop said on Tuesday it had completed an “at-the-market” equity offering of its shares to raise roughly $2.14 billion in gross proceeds, days after meme stock influencer Keith Gill’s first livestream in three years.
Shares of the videogame retailer, which has been at the center of the meme stock frenzy, rose more than 5% on the news before reversing course to fall 1.6% in volatile extended trading.
On a livestream on Friday with more than 600,000 viewers, Gill, the key figure behind an eye-popping rally in the struggling company’s stock in 2021, joked about memes and interspersed his discussion of GameStop with various disclaimers. The stock closed the session down nearly 40%.
GameStop said it sold the maximum amount of 75 million shares registered under the program.
According to Reuters’ calculations, the average sales price of each GameStop share came at around $28.50….
