GameStop issuing shares to cash in on stock surge

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Retailer files prospectus with SEC to sell up to 3.5 million new shares, will use money “to further accelerate transformation”

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GameStop stock continues to trade well above historical levels after its January surge, and the retailer is looking to take advantage.

Before the beginning of trading today, GameStop announced that it has filed with the US Securities and Exchange Commission to offer and sell up to 3.5 million shares of common stock at market prices.

GameStop shares ended today’s trading at $186.95. At that price, the offering would raise more than $654 million for the retailer.

The company said it will use

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