GameStop Issues $1.3 Billion Convertible Debt for Bitcoin Acquisition
GameStop (GME) plans to raise $1.3 billion through convertible senior notes, with a five-year maturity. The offering includes an underwriter greenshoe option for an additional $200 million.
- Funds will be used for general corporate purposes, including bitcoin acquisition.
- GameStop joins firms like MicroStrategy (MSTR) and Marathon Digital (MARA) in using convertible debt for BTC purchases.
- After-hours trading saw GME shares drop 7%, following an 11.7% increase during regular trading.
- Bitcoin price recovered to $87,000 after previously dropping to $86,000.