On June 2, 2022, GameStop's stockholders approved a Charter Amendment to increase the number of authorized shares of its Class A Common Stock to 1,000,000,000.

The amendment allows for the increase or decrease in the number of authorized shares of any class of capital stock, provided that it does not fall below the number of shares that are currently outstanding.

https://news.gamestop.com/static-files/4d493e8b-d6df-445b-82df-6eb40affef0f

As of the most recent information, GameStop has authorized a total of 1,005,000,000 shares of capital stock, consisting of 1,000,000,000 shares of Class A Common Stock and 5,000,000 shares of Preferred Stock.

Based on their previous ATM offerings in 2024, they have sold:

1. May 2024: 45,000,000 shares
2. June 2024: 75,000,000 shares
3. September 2024: 20,000,000 shares

This totals 140,000,000 shares sold through the ATM program.

Shares value raised through the ATM offerings,:

• May 2024: $933.4 million
• June 2024: $2.137 billion
• September 2024: $400 million

GameStop has raised approximately $3.47 billion through its ATM offering program so far.

Thus, GameStop can potentially offer 554,000,000 more shares of Class A Common Stock in future ATM offerings.

This would be worth $11 billion at $20 per share bringing GameStop total cash to around $14 billion.