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GameStop Announces Proposed Private Offering of $1.3 Billion of Convertible Senior Notes
GMEGameStop(GME) GlobeNewswire·2025-03-26 20:05

Core Viewpoint - GameStop Corp. plans to offer 1.3billionof0.001.3 billion of 0.00% Convertible Senior Notes due 2030 in a private offering, with an option for initial purchasers to buy an additional 200 million [1][2]. Group 1: Offering Details - The notes will be unsecured obligations, will not bear regular interest, and will mature on April 1, 2030, unless converted, redeemed, or repurchased earlier [2]. - Upon conversion, GameStop may pay in cash, shares of Class A common stock, or a combination of both, with the initial conversion rate to be determined at the time of pricing [2]. - The reference price for the initial conversion price will be based on the U.S. composite volume weighted average price of Class A common stock during a specified time on the pricing date [2]. Group 2: Use of Proceeds - GameStop intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin in line with its Investment Policy [3]. Group 3: Regulatory Information - The notes and any shares of Class A common stock issuable upon conversion have not been registered under the Securities Act and may not be offered or sold in the U.S. without registration or an applicable exemption [4]. - The press release does not constitute an offer to sell or a solicitation to buy any securities in jurisdictions where such actions would be unlawful [5]. Group 4: Company Overview - GameStop is a Fortune 500 company based in Grapevine, Texas, specializing in games and entertainment products through e-commerce platforms and physical stores [6].