TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Economie

GameStop Corp expresses plans of a £720 million share sale.

by souhaib
April 5, 2021
in Economie
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


GameStop Corp (NYSE: GME) expressed plans of a £720 million share sale on Monday to benefit from the Reddit-driven bull run that started earlier this year. The news comes two weeks after the video game retailer reported lower than expected sales and earnings in the fiscal fourth quarter.

You might also like

‘momentum is continuing into 2022’

Astra Space stock closed down 20% on Monday: here’s why

Ripple, Dogecoin, Litecoin price forecast for February 2022

GameStop shares slid about 10% in premarket trading on Monday. Including the price action, the stock is now trading at £123.34 per share. In comparison, it had started the year 2021 at a per-share price of £12.44. The price action should come in handy if you are interested in investing in the stock market.

GameStop intends to sell about 3.5 million shares


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

GameStop said it intends to sell roughly 3.5 million shares. The proceeds from the share sale, it added, will be used to accelerate the company’s shift to eCommerce. GameStop’s top shareholder Ryan Cohen is leading the overhaul. Cohen is also a board member of the video game retailer.

GameStop closed the regular session on Thursday at a per-share price of £138.09. At this price, the Texas-based company could generate £483.26 million. For the share sale, however, GameStop is not constrained to price its shares at £138.09.

The gaming merchandise retailer also warned investors on Monday that in the event of a decline in its stock, participating in the share sale could result in a sizeable loss. GameStop had previously registered with the U.S. SEC (Securities and Exchange Commission) in December to sell shares worth £72.13 million. It, however, did not sell shares under the December prospectus.

Tip: looking for an app to invest wisely? Trade safely by signing-up with our preferred choice,
eToro:

visit & create account

Jefferies will serve as the sales agent for GameStop’s share sale

GameStop also highlighted on Monday that Jefferies LLC will serve as the sales agent for its stock sale. The American multinational independent investment bank and financial services company has agreed to a commission of roughly 1.5% of the gross sales per-share price.

In related news, the U.S. video game retailer also said on Monday that its global sales in the nine weeks that concluded on 4th April posted an 11% increase on a year over year basis. In related news from the United States, investment bank Morgan Stanley said it will raise dividend as soon as the Federal Reserve eases restrictions.

GameStop shares performed massively upbeat in the stock market last year with an annual gain of close to 225%. At the time of writing, the Grapevine-headquartered company is valued at £9.66 billion.



Source link

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Share30Tweet19
Previous Post

Gordon Brown tells Nicola Sturgeon to stop ‘petty politicking’ over Scottish independence

Next Post

Two 17-year-old school girls expose terrifying sexual assault stories

souhaib

Recommended For You

‘momentum is continuing into 2022’

by souhaib
February 7, 2022
0

Shares of Chegg Inc (NYSE: CHGG) are up 10% in extended trading on Monday after the student services company said it performed better-than-expected in Q4, despite COVID-19 uncertainty....

Read more

Astra Space stock closed down 20% on Monday: here’s why

by souhaib
February 7, 2022
0

Read more

Ripple, Dogecoin, Litecoin price forecast for February 2022

by souhaib
February 7, 2022
0

The cryptocurrency market is advancing this Monday, and this situation also supports the price of Ripple XRP/USD, Dogecoin DOGE/USD, and Litecoin LTC/USD. Bitcoin is trading above the $44,000...

Read more

Analyst: ‘Apple would be forced into it if Amazon goes after Peloton’

by souhaib
February 7, 2022
0

Read more

Should I buy Uber shares in February 2022?

by souhaib
February 7, 2022
0

Uber Technologies, Inc. (NYSE: UBER) will announce fourth-quarter earnings results this Wednesday, February 09, after the market closes. Uber shares have weakened more than 10% since the beginning...

Read more
Next Post

Two 17-year-old school girls expose terrifying sexual assault stories

No Result
View All Result

Recent Posts

  • McDonald’s to exit Russia completely – POLITICO
  • Oregon Democrat at risk as 5 states hold US House primaries
  • Como hacer Email Marketing 90% off Discount
  • Massage Chairs Have Many Benefits
  • Show The Newly Unemployed How To Become Internet Marketers Reviews 2022

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.