Take-Two drops on planned $1 bln stock offering
20/05/2025 21:23
** Shares of video game publisher Take-Two Interactive Software TTWO.O down 3.4% to $229.55 post-market as co looks to raise equity
** Co announces $1 bln stock offering for general purposes, including potential debt repayment and future acquisitions
** JP Morgan and Goldman leading the offering
** Co has ~177.1 mln shares outstanding for $42 bln market cap
** TTWO shares on Tues finished up 1.2% at $237.50, up 29% YTD
** Co last Thurs forecasted annual bookings below revised Wall Street expectations, weighed down by delay of its highly anticipated "Grand Theft Auto VI"
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))