GameStop plans to privately issue $1.3 billion in convertible senior notes to purchase Bitcoin
ChainCatcher message, GameStop announced that it plans to privately issue $1.3 billion of 0.00% convertible senior notes (due 2030) to qualified institutional investors. Depending on market conditions, the company may also grant initial purchasers the option to purchase up to an additional $200 million of notes within 13 days.
GameStop stated that the proceeds will be used for general corporate purposes, including the purchase of Bitcoin in accordance with the company's investment policy.
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