GameStop Announces At-The-Market Equity Offering Program
April 05 2021 - 6:05AM
GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today
announced that it has filed a prospectus supplement withthe U.S.
Securities and Exchange Commission (“SEC”), under which it may
offer and sell up to a maximum of 3,500,000 shares of its common
stock (the “Common Stock”) from time to time through an
“at-the-market” equity offering program (the “ATM Offering”). The
Company intends to use the net proceeds from any sales of its
Common Stock under the ATM Offering to further accelerate its
transformation as well as for general corporate purposes and
further strengthening its balance sheet. The timing and amount of
any sales will be determined by a variety of factors considered by
the Company.
Common Stock will be offered through Jefferies
LLC (“Jefferies”), which is serving as the sales agent. Jefferies
may sell Common Stock by any lawful method deemed to be an
“at-the-market offering” defined by Rule 415(a)(4) of the
Securities Act of 1933, as amended, including without limitation,
sales on any existing trading market. Sales may be made at market
prices prevailing at the time of a sale or at prices related to
prevailing market prices. As a result, sales prices may vary.
GameStop’s prospectus supplement filed today
supplements information contained in the accompanying prospectus
contained in the shelf registration statement on Form S-3 (File No.
333-251197) for the offering of Common Stock. Potential investors
should review the prospectus, the prospectus supplement and all
other related documents that GameStop has filed with the SEC for
complete corporate information, including information pertaining to
the ATM Offering and the risks associated with investing in the
Company. Investors can obtain copies of the prospectus supplement
and the accompanying prospectus by visiting the SEC’s website at
www.sec.gov. Alternatively, potential investors may contact
Jefferies, who will arrange to provide them these documents, at:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022; by phone at (877) 821-7388; or by e-mail
at Prospectus_Department@Jefferies.com.
Please note that this press release is for
informational purposes only and it does not represent an offer to
sell or the solicitation of an offer to buy any of the Company’s
Common Stock. In no event will the Company sell more than 3,500,000
shares of Common Stock under the ATM Offering, and aggregate gross
proceeds will not exceed $1,000,000,000. There will be no sale of
Common Stock in any jurisdiction in which one would be
unlawful.
About GameStop GameStop, a
Fortune 500 company headquartered in Grapevine, Texas, is a leading
specialty retailer offering games and entertainment products
through its e-commerce properties and thousands of stores.
Cautionary Statement Regarding
Forward-Looking Statements – Safe Harbor
This press release contains “forward looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements generally,
including statements about the ATM Offering and the use of proceeds
therefrom, include statements that are predictive in nature and
depend upon or refer to future events or conditions, and include
words such as “believes,” “plans,” “anticipates,” “projects,”
“estimates,” “expects,” “intends,” “strategy,” “future,”
“opportunity,” “may,” “will,” “should,” “could,” “potential,” or
similar expressions. Statements that are not historical facts are
forward-looking statements. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties. Forward-looking statements speak only as of the date
they are made, and the Company undertakes no obligation to update
any of them publicly in light of new information or future events.
Actual results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the SEC including, but not limited to, the
Company’s Annual Report on Form 10-K for the fiscal year ended
January 30, 2021, filed with the SEC on March 23, 2021. All
filings are available at www.sec.gov and on the Company’s website
at www.GameStop.com.
Contacts
GameStop Investor Relations 817-424-2001
investorrelations@gamestop.com
GameStop Public Relations Joey Mooring
joeymooring@gamestop.com
or
Profile Greg Marose / Charlotte Kiaie
gamestop@profileadvisors.com
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