Take-Two Interactive falls after $1 billion equity raise

Take-Two Interactive Software's TTWO.O shares fall 3.8% to $228.40 premarket after stock sale priced

Videogame publisher late Tuesday priced stock offering of 4.75 million shares at $225 apiece for gross proceeds of $1.07 billion

Offering priced at a 5.3% discount to the stock's last close

TTWO plans to use the proceeds for general purposes, including debt repayment and future acquisitions

J.P. Morgan and Goldman Sachs were the lead bookrunning managers for the offering

Stock closed up 1.2% at $237.50 on Tuesday

Prior to stock offering, TTWO had ~177.1 million outstanding shares

25 of 29 brokerages rate the stock "buy" or higher and 4 "hold"; median PT $252.50 - data compiled by LSEG

As of last close, TTWO stock up 29% YTD