GameStop To Raise $1.3 Billion Funds for Crypto Strategy, Stock Dips by 8%

The post GameStop To Raise $1.3 Billion Funds for Crypto Strategy, Stock Dips by 8% appeared first on Coinpedia Fintech News

GameStop has announced plans to raise up to $1.3 billion through convertible debt to boost its Bitcoin holdings. This comes just a day after the company revealed its Bitcoin (BTC) treasury strategy. 

Gamestop To Raise $1.3B Through Convertible Notes

The company plans to issue $1.3 billion in convertible senior notes, targeting qualified institutional buyers, with a five-year maturity. It also granted the initial purchasers a 13-day option to buy up to an additional $200 million in notes, bringing the potential total raise to $1.5 billion.

The notes will carry a 0% coupon and will mature on April 1, 2030, unless converted, redeemed, or repurchased earlier. GameStop plans to use the funds raised from the offering for general corporate purposes, including buying bitcoin in line with its Investment Policy.

GME Follows MSTR’s Strategy

With this move, GameStop joins companies like Michael Saylor’s MicroStrategy (MSTR), Semler Scientific (SMLR), Marathon Digital (MARA), and Riot Platforms (RIOT), which have also issued convertible debt to fund bitcoin purchases. Michael Saylor initiated a poll on X, asking how much bitcoin GameStop needs to buy to gain respect from Bitcoiners.

1B at least pic.twitter.com/SBsT1b8fxZ

— Alex