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GameStop Announces $1.3 Billion Convertible Notes Offering with Bitcoin Investment Strategy

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By Carine W.Mar 27, 2025

Gaming Retailer to Issue Zero-Interest Notes Due 2030 with Option for Additional $200 Million.

According to GlobeNewswire, GameStop Corp. (NYSE: GME) announced on March 26, 2025, its intention to offer $1.3 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2030 in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The company also plans to grant initial purchasers an option to buy up to an additional $200 million in notes within 13 days of the first issuance.

The notes will be unsecured obligations with no regular interest and non-accreting principal amounts, maturing on April 1, 2030, unless converted, redeemed, or repurchased earlier. Upon conversion, GameStop will deliver cash, shares of Class A common stock, or a combination at its discretion. Initial conversion rates and other terms will be determined at pricing. The reference price for calculating the initial conversion price will be the U.S. composite volume weighted average price of Class A common stock from 1:00 p.m. to 4:00 p.m. Eastern Daylight Time on the pricing date.

GameStop intends to use the net proceeds for general corporate purposes, including Bitcoin acquisition in accordance with its Investment Policy.

Neither the notes nor any shares issuable upon conversion have been registered under the Securities Act or state securities laws, meaning they cannot be offered or sold in the United States without registration or an applicable exemption.

The company notes there is no guarantee the offering will be completed as described.

GameStop

Carine W.

A seeker of truth in crypto, blending writing, peace, and prayer to inspire a global audience.

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