GameStop Corp. 's ( GME - Free Report ) shares continued to exhibit strength and jumped roughly 12% on Apr 26 during the trading session. The company stated that it has completed the sale of 3.5 million shares of its common stock through the "at-the-market" equity offering program (the "ATM Offering"). It generated collective gross proceeds before commissions and offering expenses of roughly $551 million. Management will utilize the net proceeds toward accelerating GameStop's transformation and for general corporate functions along with strengthening the balance sheet. Industry experts opine that the company's action of selling shares helped it to cash in on the massive price surge witnessed since January due to potential short-squeeze events. On Apr 5, the company had filed a prospectus supplement with the U.S. Securities and Exchange Commission, wherein it can offer and sell up to a ceiling of 3,500,000 shares of common stock from time to time via the ATM Offering.