05:37 AM EDT, 09/11/2024 (MT Newswires) -- GameStop ( GME ) filed a registration statement Tuesday in connection with its proposed sale of up to 20 million of its class A common shares.

The offering is under the sales agreement the company signed with Jefferies in May 2024, through which it previously sold a total of 120 million common shares for about $3.1 billion.

Net proceeds from the offering are intended for general corporate purposes, which may include acquisitions and investments.

Shares of GameStop ( GME ) were down more than 10% pre-bell Wednesday.

Price: 21.01, Change: -2.44, Percent Change: -10.41