June 11 (Reuters) - GameStop ( GME ) said on Tuesday it

had completed an "at-the-market" equity offering of its shares

to raise roughly $2.14 billion in gross proceeds, days after

meme stock influencer Keith Gill's first livestream in three

years.

Shares of the videogame retailer, which has been at the

center of the meme stock frenzy, rose more than 5% on the news

before reversing course to fall 1.6% in volatile extended

trading.

On a livestream on Friday with more than 600,000 viewers,

Gill, the key figure behind an eye-popping rally in the

struggling company's stock in 2021, joked about memes and

interspersed his discussion of GameStop ( GME ) with various

disclaimers. The stock closed the session down nearly 40%.

GameStop ( GME ) said it sold the maximum amount of 75 million

shares registered under the program.

According to Reuters' calculations, the average sales price

of each GameStop ( GME ) share came at around $28.50. The company's

shares closed at $30.49 after Tuesday's trade.

The company said it intends to use the proceeds for general

corporate purposes, which may include acquisitions and

investments.

GameStop ( GME ) last week surprised investors by releasing its

first-quarter results ahead of schedule where it showed a 28.7%

slide in revenues to $881.8 million, and announcing the stock

sale.

CEO Ryan Cohen held an 8.6% stake in the videogame retailer

as of June 10, as per a regulatory filing on Tuesday, down from

10.5% as of May 22.

In May, the company raised another $933.4 million by selling

45 million shares. It had disclosed its share sale plan earlier

that month amid a retail buying frenzy sparked by the return of

Gill on social media.

Bullish calls by Gill, known on YouTube as "Roaring Kitty",

on GameStop ( GME ) were a reason for the 2021 meme stocks frenzy.

Gill has helped attract a flood of retail cash to the

beleaguered bricks-and-mortar retailer with his bullish case on

Reddit posts and YouTube streams.