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06/12 04:51

   GameStop to Raise $1.75B via Convertible Note

  

GameStop to Raise $1.75B via Convertible Notes, Eyes Bitcoin as Reserve Asset

                                                                                                                                                     The offering includes an option for initial buyers to purchase an additional $250 million in notes, potentially increasing the total raise to $2 billion.

According to the company, the proceeds will be used for general corporate purposes, including strategic acquisitions and investments in line with its recently updated treasury policy. In March, GameStop revised its investment framework to allow Bitcoin to be held as a reserve asset on its balance sheet.

The move marks a significant step for the video game retailer, which has remained a prominent figure among retail traders since its rise as a memestock in 2021. The company did not confirm a direct Bitcoin purchase but pointed to its updated investment strategy as a guiding factor in potential allocation decisions.

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