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By Taylor Pierce - Monday, May 27
Dust Off Your Consoles, GameStop’s Back!
It appears the infamous Keith Gill, better known as ‘Roaring Kitty’, is back… His tweet on May 12, 2024, has had over 27 million views at the time of this email, and some attribute him to single-handedly causing GameStop’s stock to surge once again.
Why does this matter? We reveal how much cash GameStop was able to generate below, in case you need a hint… it is a very big number.
Weekly Money Moves:
Last week witnessed a significant surge in total funds raised, soaring 54% to $3.7 billion from the previous week's $2.4 billion. The Biotech sector emerged as the top performer again, securing 40% of the total capital raised, equivalent to $1.5 billion.
In an interesting turn, the Gaming sector claimed second place, driven entirely by GameStop (NYSE:GME), which raised $933 million.
On May 17, 2024, GameStop announced that it had filed a prospectus with the SEC to offer up to 45 million shares. The company successfully sold the maximum number of shares, raising $933.4 million. This substantial influx represented 25% of the total funds raised in North American equities for the week.
In third place, the Metals and Mining sector attracted $689 million or 18% of the total funds raised.
The mining sector's financing success was primarily driven by Hudbay Minerals (TSX:HBM), which secured $350 million through a syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets, and IAMGOLD Corp (TSX:IMG), which raised $300 million led by National Bank Financial Markets, BMO Capital Markets, and RBC Capital Markets.
The Health Care sector also made a strong showing, raising $376 million, which accounted for 10% of the week's total.
Company | Money Raised ($USD) | Sector |
GameStop | $933,400,000 | Gaming |
Bicycle Therapeutics | $555,000,000 | Biotechnology |
Cytokinetics | $550,000,000 | Biotechnology |
Hudbay | $349,980,000 | Finance |
Dyne Therapeutics | $325,500,000 | Biotechnology |
IAMGOLD Corporation | $300,000,000 | Metals & Mining |
Grupo Oncoclinicas | $194,378,571 | Health Care |
Lilium | $114,000,000 | Aerospace |
Perspective Therapeutics | $80,000,000 | Health Care |
Planet 13 Holdings | $54,417,539 | Cannabis |
Nyxoah | $50,000,000 | Health Care |
P3 Health Partners | $42,200,000 | Health Care |
Genelux | $27,500,000 | Biotechnology |
Solaris Resources | $25,689,514 | Metals & Mining |
Perma-Fix | $20,000,000 | Renewable Energy |
Blackline Safety | $16,861,737 | Technology |
Agrify | $13,800,000 | Cannabis |
Akoustis | $10,000,000 | Semiconductor |
Andfjord Salmon | $10,000,000 | Farming |
Polarean | $9,000,000 | Health Care |
LuxUrban Hotels | $8,800,000 | Real Estate |
Biodexa Pharmaceuticals | $7,000,000 | Biotechnology |
MyMD | $7,000,000 | Biotechnology |
Edible Garden | $6,000,000 | Agriculture |
Prime Drink Group | $3,873,525 | Food & Beverage |
Fury Gold Mines | $3,657,916 | Metals & Mining |
The9 | $3,500,000 | Technology |
GT Biopharma | $3,200,000 | Biotechnology |
Banzai | $2,500,000 | Software |
Corre Energy | $2,300,484 | Energy |
Netcapital | $2,200,000 | Technology |
LifeSafe Holdings | $2,033,005 | Consumer |
Rakovina Therapeutics | $1,500,000 | Biotechnology |
Koryx Copper Resources | $1,466,238 | Metals & Mining |
HydroGraph Clean Power | $1,172,990 | Engineering |
Lead Investors: Cytokinetics closed a monster $550 million biotech round led by Royalty Pharma. MyMD's smaller yet noteworthy $7 million biotech round was led by PharmaCyte Biotech. In agricultural farming, Andfjord Salmon secured $10 million in a deal led by High Liner Foods. Grupo Oncoclinicas' substantial $194 million Health Care round was spearheaded by Banco Master, while P3 Health Partners raised $42 million with Chicago Pacific Founders. Additionally, The9 successfully raised $3.5 million from FineWill Capital.
Do you know of any other lead investors who put capital into the markets this week? We would be happy to feature the transactions, send us an email at [email protected]
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