GameStop to Raise $1.75 Billion Through Convertible Senior Notes Offering: More Bitcoin Purchases Ahead?
GameStop Corp. Cl A (NYSE: GME), an established game retailer who gained popularity as a scholarship company, announced on Wednesday June 11, planning to raise $ 1.75 billion. The company announced that it intended to collect funds thanks to a private offer of 0% convertible senior tickets which will expire in 2032.
GameStop has announced that initial investors have an additional $ 250 million in tickets within 13 days from the date of issuance. The company has announced that the product product will be used for general business purposes, in particular by making investments in a manner in accordance with its investment policy and its potential acquisitions.
Bitcoin Acquisitions Next by GameStop?
Although the company has not explicitly declared in the announcement that funds will be used in Bitcoin purchases, speculation highlights an imminent BTC potential acquisition. As Coinpedia reported, Gamesco has added Bitcoin to its cash management similar to a strategy to cover itself against inflation.
During the first quarter, GameStop announced the acquisition of 4,710 BTC for $ 512 million. With the demand for Bitcoin increasing exponentially, GameStop is likely to aggressively accumulate more BTC in the near future by operating its stock market.
Market impact
After the announcement, GME shares dropped by 11% to exchange approximately $ 25.23 when writing this article. The company, which is currently evaluated at around $ 13.49 billion, experienced increased volatility, investors, investors have worried about the additional dilution of shares.
However, the long -term impact of the agreement will be positive for the appearance of Metaplanet, if the company accumulates more BTC aggressively.
