04:28 PM EDT, 05/20/2025 (MT Newswires) -- Take-Two Interactive Software ( TTWO ) said late Tuesday it proposed an underwritten public offering of $1 billion of common shares.

Underwriters could receive a 30-day overallotment option to buy up to an additional $150 million of the common stock, according to a statement.

The company said it plans to use the net proceeds for general corporate purposes, which could be debt repayment or future acquisitions.

Shares were down over 3% in after-hours trading.