GameStop Corp. (NYSE: GME) has announced the pricing of its upsized sale of convertible senior notes due 2032. The gaming retailer extraordinaire up-scaled its sale of notes from a measly $1.75 billion, announced earlier this week, to a whopping $2.25 billion. 💸
The company also announced that initial purchasers of the notes will be given an option to purchase an additional $450 million within a 13-day period. As a result, GameStop has estimated to raise up to $2.68 billion after the sale of notes is closed June 17, 2025. 🚀
Is GameStop Prepping for More Crypto Adventures?
The company indicated that the funds will be used to make strategic acquisitions and investments, which aligns with its long-term goal. As Coinpedia previously reported, GameStop has already disclosed holding around 4,710 Bitcoins, which were purchased during the first quarter of 2025. 🤑
“GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions,” the announcement noted.
The company has been betting on an imminent parabolic rally of Bitcoin in the long haul, fueled by clear crypto regulatory frameworks in the United States. Furthermore, more companies have followed in the footsteps of Strategy in implementing a BTC treasury management plan to hedge against inflation. 🌟
At the time of this writing, around 228 entities, led by publicly traded companies, have adopted a BTC treasury management plan. Consequently, the supply of Bitcoin on centralized exchanges has continued to exponentially decline, thus further exacerbating the existing supply vs demand shock. 📈
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2025-06-13 03:07