Overview

GameStop has successfully closed a convertible note sale worth $1.3 billion, which includes the full exercise of a $200 million greenshoe option. This brings the total sale amount to $1.5 billion, providing the company with the needed funds to purchase Bitcoin.

Key Details:

• The net proceeds amount to approximately $1.48 billion after fees.
• The company intends to leverage some of these funds to add Bitcoin to its balance sheet, a strategic move confirmed by its CEO, Ryan Cohen, alongside the recent earnings report.
• GameStop’s stock rose by 1.35% during regular trading and has shown a 0.8% increase in after-hours trading.

Other Information

Currently, Bitcoin is priced modestly higher at $84,900.