Outcome of GameStop's completion of 3 at-the-market equity offering programs
In 2024, GameStop raised nearly $3.5 billion in cash from 3 at-the-market equity offering programs ("ATMs")
Summary
- On 3 occassions in 2024, GameStop raised cash by selling shares, raising nearly $3.5 B
- "Having a strong balance sheet especially in times of economic uncertainty is a strategic advantage."
-- Ryan Cohen, GameStop 2024 Annual Meeting (June 17, 2024) - "The purpose and quality of the use of capital is what ultimately defines the merit of any dilution."
--GameStop Director Larry Cheng (June 17, 2024) - As of the completion of these ATMs, GameStop now has the highest valuation in its history, in terms of stockholders' equity
Table of changes to GME equity in 2024
| Date | Action | Shares issued and sold | Average price per share | Cash raised | Stockholders' equity | Total shares outstanding | Book value per share |
| As of May 4 | Q1 earnings release | -- | -- | -- | $1.3 B | 306.2 M | $4.25 |
| May 24 | ATM completion | 45 M | $20.74 | $0.93 B | $2.23 B | 351.2 M | $6.35 |
| June 11 | ATM completion | 75 M | $28.49 | $2.14 B | $4.37 B | 426.2 M | $10.25 |
| As of August 3 | Q2 earnings release | -- | -- | -- | $4.4 B | 426.5 M | $10.32 |
| September 23 | ATM completion | 20 M | $20.00 | $0.4 B | $4.8 B | 446.5 M | $10.75 |
