GameStop Seeks Shareholder Approval To More Than Double Its Authorized Shares – A Look At The Important Figures

• GameStop stated that maintaining a reserve of authorized shares it can draw on will help the company act decisively when an opportunity arises.
• The company currently has 448.7 million shares issued and outstanding, with more than 269 million available for further issuance.
• The company also announced the date of its next annual meeting of shareholders, which is scheduled for July 7, 2026.

GameStop Corp. (GME) on Friday sought shareholder approval to more than double its authorized share count as the company pursues its acquisition bid for eBay Inc. (EBAY).

GameStop stated in its filing with the U.S. Securities and Exchange Commission that it is seeking shareholder approval to increase its authorized common shares from 1 billion to 2.5 billion.

GameStop shares were down about 2% in Friday’s opening trade.

GME Says Reserve Of Shares Will Help It Act Decisively

GameStop stated that maintaining a reserve of authorized shares it can draw on will help the company act decisively when an opportunity arises. The company currently has 448.7 million shares issued and outstanding, with more than 269 million available for further issuance.

The company also announced the date of its next annual meeting of shareholders, which is scheduled for July 7, 2026.

“We view our equity as precious and do not intend to issue new shares lightly,” the company said. It also reiterated that GameStop CEO Ryan Cohen will receive no salary or cash bonus until the company’s market capitalization reaches $20 billion on a sustained basis.

“Our Chief Executive Officer, Ryan Cohen, does not draw a salary, take a cash bonus, or receive time-vested stock. His financial interests are tied entirely to the value of the GameStop shares he already owns. The Board is proposing a 100% performance-based option award,” the company said in its filing.

GME’s eBay Bid

Cohen said during an interview earlier this month that GameStop can issue additional stock to close the eBay deal, amid swirling questions about the company’s ability to finance the takeover.

“We are offering half cash, half stock, and we have the ability to issue stock in order to get the deal done. But the full details of the offer on our website. We will see what happens,” he said.

Cohen also added that he plans to leverage GameStop’s infrastructure and focus on collectibles to turn eBay into a much larger business.

eBay subsequently rejected GameStop’s unsolicited $56 billion acquisition bid, calling it “neither credible nor attractive.”

“The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it. We have concluded that your proposal is neither credible nor attractive,” eBay stated in a letter addressed to Cohen.

GME stock is up 10% year-to-date, while EBAY stock is up 35%. The Invesco QQQ Trust (QQQ) is up 39% over the past 12 months, while the Vanguard Total Stock Market Index Fund ETF (VTI) is up 28%.

The Vanguard Small-Cap Index Fund ETF (VB) is up 27% during this period.

Also See: Dow Soars Over 420 Points, Hits 52-Week High As US-Iran Peace Deal Progresses

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