GameStop issued $1.3 billion in Bitcoin convertible bonds, with a conversion price 35% higher than the closing price
GameStop has priced its $1.3 billion convertible senior notes, which are planned to be used for increasing Bitcoin holdings. The bonds will mature in 2030 with an initial conversion rate of 33.4970 shares per $1000, corresponding to a conversion price of approximately $29.85, about a 35% premium over Thursday's closing price of $22.09. If the issuance is successful, GameStop will become the fourth largest publicly traded company holding Bitcoin globally, surpassing Tesla and only behind Riot Platforms.
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