Gamestop Corp. is planning to raise $1.755 billion through personal offerings of convertible senior notes in 2032 as it explores digital asset investments, including potential Bitcoin acquisitions under its updated investment strategy, according to a June 11 press release.
Zero Coupon Notes are provided to qualified institutional buyers under Rule 144A of the Securities Act, with the option of first buyers purchasing an additional $250 million within 13 days of issuance.
Unsecured notes do not take any interest, accumulate, and will mature on June 15th, 2032.
GameStop said it could resolve conversions with cash, stocks or combinations. The conversion rate and other final conditions are determined at pricing.
Bitcoin Ministry of Finance accumulation
GameStop did not disclose specific investment targets, but said the revenues will be used for “general corporate purposes.” This includes acquisitions and investments in line with investment policies.
The move reflects similar strategies by companies such as MicroStrategy, which used convertible debt to accumulate over 200,000 BTC and transform cryptocurrency into the Strategic Treasury.
Market speculations regarding GameStop’s potential Bitcoin exposure have been rising in recent weeks, particularly after executive reshuffling and wider engagement with the digital asset space.
The company previously raised $1.3 billion through another convertible note offering, resulting in the Treasury acquisition of 4,710 BTC last month.
GameStop previously suggests ambitions beyond retail gaming, exploring digital wallets, NFTs and distributed infrastructure. This latest round of funding could give companies additional flexibility to pursue a more aggressive pivot towards blockchain-related assets or technologies.
Limits immediate dilution
This service allows GameStop to raise capital without immediate shareholder dilution. However, future conversions of notes may increase unpaid She accounts.
The company retains the flexibility to settle in cash.
Memos and shares that can be issued upon conversion are not registered under federal securities laws and cannot be published or sold in the United States without exemptions.
GameStop shares slipped slightly in after-hours trading after the announcement. This indicates that investors are currently skeptical of their investment plans.
