08:23 AM EDT, 05/17/2024 (MT Newswires) -- GameStop ( GME ) on Friday filed a prospectus supplement related to an offering of up to 45 million shares of its class A common stock.

The company entered into an open market sale agreement, under which it may sell common shares from time to time through Jefferies, acting as its sales agent, according to the filing.

GameStop ( GME ) said it plans to use any net proceeds from the offering for general corporate purposes.

Gamestop ( GME ) shares fell 23% in premarket trading.

Price: 21.16, Change: -6.51, Percent Change: -23.53