GameStop Holders Sell Shares

Two big holders sell to Citigroup.

Author:: TSC and IRIS Staff
Publish date:: Apr 11, 2006 9:32 AM EDT

GameStop

, a video game and entertainment software retailer, said that two stockholders have sold 6.5 million shares of its Class A common stock to Citigroup Corporate and Investment Banking.

The Grapevine, Tx.-based company said a shelf registration was filed with the Securities and Exchange Commission on Monday, and a prospectus supplement relating to the offering by the selling stockholders will be filed.

The selling stockholders were EB Nevada, a corporation indirectly owned by James J. and Agnes C. Kim and related trusts, that is selling 5 million shares, and Leonard Rigio, who is selling 1.5 million shares.

After the transaction, EB Nevada will continue to own 8.6% of the company's Class A common stock and Riggio will continues to be a beneficial owner of about 6.3% of the company's Class A common stock and 17.2% of the company's Class B common stock.

This story was created through a joint venture between TheStreet.com and IRIS.