# Gaming retailer GameStop to offer up to $1 bn in shares; stock declines | Tech News (HT Tech) > GameStop Corp. fell early on Monday after the company said it may sell up to $1 billion worth of additional shares an at-the-market equity offering program. # Gaming retailer GameStop to offer up to $1 bn in shares; stock declines ## GameStop Corp. fell early on Monday after the company said it may sell up to $1 billion worth of additional shares an at-the-market equity offering program. Aug 21 2022, 16:17 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![The recent GameStop frenzy provided what parents and educators call a teachable moment - an opportunity that presents itself to lend a little insight.](https://images.hindustantimes.com/tech/img/2021/04/05/1600x900/f0c20f850aa54804b506441dc542dd35-f0c20f850aa54804b506441dc542dd35-0_1614131559260_1614131581154_1617624938725.jpg) The recent GameStop frenzy provided what parents and educators call a teachable moment - an opportunity that presents itself to lend a little insight. (AP) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG Shares of GameStop Corp. fell early on Monday after the company said it may sell up to $1 billion worth of additional shares at an at-the-market equity offering program. Shares of the video game retailer declined more than 15 percent to $160.96 as of 7:19 a.m. in New York. Jefferies will manage the offering of up to 3.5 million shares, according to a statement, and proceeds will be used to further accelerate its corporate transformation. The company signed a deal in December with Jefferies to sell as much as $100 million in stock, according to a filing. Also read click here. Also read: GameStop may cash in on Reddit rally with share sale As part of a corporate overhaul spearheaded by activist investor and board member Ryan Cohen, GameStop, the company has brought in a number of new executives including a chief growth officer and chief technology officer, adding technology-focused senior executives to its team to move the company away from its brick-and-mortar business. In a separate statement on Monday, GameStop released preliminary sales results for the first nine weeks of fiscal 2021, where total global sales increased about 11 percent from the same period a year ago. Total global sales jumped 18 percent in March after a 5.3 percent rise in February. Read more: Reddit recovers from hour-long outage amid heavy trading in GameStop GameStop, based in the Dallas suburbs, has suffered with the video-game industry’s shift to online distribution. With gamers downloading more and more – or at least ordering software and gear via e-commerce – there’s less reason to make a trip to a physical store. The company reported disappointing fourth-quarter earnings last month. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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