(Reuters) – GameStop (NYSE:) mentioned on Friday it bought as much as 45 million shares in an at-the-market share sale program for an combination gross proceeds of about $933.4 million, sending its shares up practically 18% in prolonged buying and selling.
The struggling videogame retailer had earlier this month mentioned it could promote shares to reap the benefits of the retail shopping for frenzy sparked by the return of “Roaring Kitty” Keith Gill, whose bullish calls on the corporate spurred the 2021 meme inventory rally.
The corporate mentioned it’ll use the shares for basic company functions.