Summary by Moomoo AI
GameStop Corp. has announced a prospectus supplement under Rule 424(b)(5) for the potential sale of up to 75,000,000 additional shares of its Class A common stock. The shares will be offered through an Open Market Sale AgreementSM with Jefferies LLC, acting as the sales agent. Previously, GameStop sold 45,000,000 shares for approximately $933.4 million under the same agreement. The additional shares will be offered from time to time at market prices or through negotiated transactions. The company's stock, listed on the NYSE under the symbol 'GME', has experienced significant volatility, with share prices ranging from $10.01 to $48.75 between February 4, 2024, and June 6, 2024. The last reported sale price on June 6, 2024, was $46.55 per share. GameStop has cautioned that the market price of its common stock has seen extreme fluctuations not based on the company's fundamentals, and investors may risk losing a significant portion of their investments if the stock price declines.