Reuters
GameStop raises more than $1 billion in latest share offer
The company, whose shares are up more than 960% this year, was the spark in January for a battle casting hedge fund short-sellers against a pack of small-time investors organizing online. Cinema operator AMC Entertainment, another meme play, completed two share issues in three days earlier this month, while Torchlight Energy on Monday upsized its own share sale to $250 million. GameStop said it would use the net proceeds from the offering, which adds to $551 million it raised in late April, for general corporate purposes as well as for investing in growth initiatives.
