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How many more new shares are available for GameStop to sell without further shareholder approval?
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Here is what I found online, but I am not sure if I'm looking at the complete picture:
The answer is Zero, right?
GameStop has recently completed an at-the-market (ATM) sale of 45 million shares, raising approximately $933.4 million. This sale utilized the maximum number of shares registered under the current ATM program. As a result, any further issuance of shares would require new shareholder approval, as the company has now exhausted the shares authorized for sale under the existing program.
Sources:
• SEC Filing | GameStop Corp.
• Shacknews: GameStop (GME) completes at-the-market sale of 45 million shares for $933.4 million in proceeds
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