GameStop to Issue $1.3 Billion Convertible Senior Notes, Including Bitcoin Purchase

user avatar

by Giorgi Kostiuk

2 years ago

GameStop has announced the issuance of $1.3 billion in convertible senior notes for general corporate purposes, including the purchase of Bitcoin.

Senior Notes Offering

GameStop has proposed a private placement of convertible senior notes totaling $1.3 billion. The net proceeds from the offering are intended to be used for general corporate purposes, including the purchase of Bitcoin, as per the company's investment policy. quote: null

Terms of Issuance

The convertible notes are issued for a five-year term with a 0% coupon rate. Additionally, the offering includes an underwriter greenshoe option for $200 million, potentially increasing the total amount raised.

Impact on Market Performance

The announcement had an immediate impact on GameStop's stock price: shares rose by 11.7% during the regular trading session but fell by 7% in after-hours trading following the news release.

GameStop's plan to issue $1.3 billion in convertible notes has captured investor attention, causing fluctuations in stock price and reflecting market expectations toward the corporate initiatives.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Solana Expands Speaker Lineup for Breakpoint Event in London

Solana has announced an expanded speaker lineup for its upcoming Breakpoint event in London, scheduled for November 15-17, 2023, featuring notable political and financial figures.

user avatarAyman Ben Youssef

Strategy Shareholders Approve Daily Dividends Plan

On October 28, 2026, Strategy shareholders approved an amendment for daily dividends on preferred stocks.

user avatarTando Nkube

Cautious Outlook on Bitcoin's Future Amid Market Trends

Cautious outlook on Bitcoin's future as analyst Rekt Capital draws comparisons to the 2022 bear market amid repeated dips below 80,000.

user avatarSatoshi Nakamura

Bitcoin Rebounds Toward 82K Amid Market Recovery

Bitcoin experienced a notable rebound on Wednesday, reaching a price of 81,687 on the Bitstamp exchange, avoiding new lower lows.

user avatarJesper Sørensen

Tech Stocks Fuel Market Relief Amid Positive Sentiment

The broader market has shown signs of relief, with tech stocks playing a significant role in the positive sentiment.

user avatarNguyen Van Long

Morgan Stanley Sees Bullish Phase for Tech Sector

Morgan Stanley's chief US equity strategist, Mike Wilson, expresses optimism about the tech sector entering a bullish phase after a market correction.

user avatarKofi Adjeman

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.