According to the latest proxy, GameStop plans a shareholder vote to increase authorized shares from 1.005 billion, a move described in the source as a major step toward an eBay deal.
GameStop shareholders are being asked to vote on increasing the company’s authorized shares to 2.5 billion from 1.005 billion, according to the latest proxy cited in the source. The source describes the proposal as a major step toward an eBay deal. An increase in authorized shares gives a company more flexibility to issue stock for transactions, financing, or corporate restructuring, although the source does not provide additional terms of the proposed deal.