GameStop Sets Price for Bitcoin Bonds at $29.85
Finance/Markets

GameStop Sets Price for Bitcoin Bonds at $29.85

GameStop has announced a 35% premium on its newly priced bitcoin bonds, aiming to include BTC in its financial assets.

Key Points

  • GameStop has priced its offering of $1.3 billion in convertible senior notes, which could allow it to hold bitcoin on its balance sheet.
  • The notes, due in 2030, will convert at a rate of 33.4970 shares per $1,000, setting an initial conversion price of approximately $29.85 per share.
  • Should this offering succeed, GameStop would rank as the fourth-largest corporate holder of BTC, trailing behind Riot Platforms and ahead of Tesla.

GameStop Store Image of a GameStop store (CoinDesk Archive)

GameStop (GME) has priced its previously announced private offering of $1.3 billion in convertible senior notes, paving the way for the company’s planned investment in bitcoin.

These notes are set to transform GameStop’s financial strategy, but skepticism remains among investors as the company’s stock has dipped—over 22% on the previous trading day. This comes in light of CEO Ryan Cohen’s strategy to utilize substantial cash reserves for acquiring bitcoin. If the sale achieves its targets, GameStop would become a prominent player in corporate Bitcoin ownership.

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