GameStop Corp. announced on March 26, 2025, its intention to offer $1.3 billion in aggregate principal amount of 0.00% Convertible Senior Notes due 2030 through a private offering. The company also plans to grant initial purchasers an option to buy up to an additional $200 million in notes.
The net proceeds from this offering are intended for general corporate purposes, explicitly including the acquisition of Bitcoin. This move is consistent with GameStop's recently updated Investment Policy, which now includes Bitcoin as a treasury reserve asset.
This financing initiative aims to bolster GameStop's capital for strategic investments, particularly in cryptocurrency. The convertible nature of the notes means they could potentially be converted into Class A common stock, which could lead to shareholder dilution.
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