The Gamestop Corporation (GME) video game retainer completed a convertible debt offer that has collected $ 1.5 billion, with certain products for the purchase of Bitcoin.
The offer was initially raised at least $ 1.3 billion, but buyers opted for an additional $ 200 million in tickets, Gamesop said in a file of April 1 with the Securities and Exchange Commission.
“The Company plans to use the net product of the offer for general business purposes, including the acquisition of Bitcoin in a way of conforming to the company’s investment policy,” added Gamesop.
Convertible tickets are debts which can then be converted into equity and are planned to mature on April 1, 2030, unless you are converted, bought or bought.
The ticket conversion rate will initially be 33 ordinary shares per $ 1,000 in main tickets, depending on the file.
Gamesop’s actions have not seen a significant decision after the end of the convertible debt offer. GME closed the negotiation day of April 1 up 1.34% to $ 22.61 and only saw an additional bump of 0.5% after Google financing data indicate.
Gamestop’s action has barely moved after sharing the convertible debt offer. Source: Google Finance
The positive feeling of shareholders saw the action jump from almost 12% to $ 28.36 on March 26, the day after GameStop followed its Bitcoin plan (BTC), but its fortune was reversed the next day, GME shares lowering almost 24% to $ 21.68.
Analysts at the time suggested that the cold reception reflected the fear of shareholders of the deeper problems of GameStop with its commercial model.
Gamestop joins the croissant bitcoin movement
On March 25, GameStop confirmed that he had received the approval of the board of directors to invest in Bitcoin and the Stablescoins American Pêtres using tickets and its cash reserves. These reserves amounted to $ 4.77 billion on February 1, against $ 921.7 million a year earlier, according to its fourth quarter financial statements in 2024.
GameStop is a relative delay among public companies creating Bitcoin vouchers. A multitude of others have already added Bitcoin to their balance sheets in a game book popularized by Micheal Saylor’s strategy.
In relation: Metaplanet adds $ 67 million in Bitcoin after a stock fraction of 10 to 1
The video game retailer previously made incursions in cryptographic space with a cryptographic portfolio for its users, which he finally closed in November 2023 due to regulatory uncertainty.
GameStop is also considered to be the first example of successful actions of the same after a short pressure in 2021 which sent the title to more than 1,000% in a month while the traders overthrew the table on hedge funds which made money short-circuited on the company.
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