GameStop seeks to increase the number of authorized shares and continues to pursue the acquisition of eBay

According to Decrypt, publicly traded video game and collectibles retailer GameStop (GME) submitted documents to the SEC requesting shareholder approval to increase the number of authorized common shares from the current 1 billion to 2.5 billion, in order to enhance financial flexibility.

This proposal is one of five proposals that will be voted on at the annual shareholder meeting in July. This move could provide the company with more leverage for acquiring eBay, which it was previously denied.