Video gaming and consumer electronics retailer GameStop has raised its planned private convertible notes to $2.25 billion, suggesting a deeper commitment to building its company, the Bitcoin Treasury Department.
GameStop upgrade Its private convertible notes were offered to $2.25 billion on Thursday, and are expected to close on Tuesday.
Video game retailers expect net income to be approximately $2.23 billion, or $2.68 billion, if the initial buyer exercises their option to purchase other notes in full.
The notes are scheduled to mature on June 15, 2032. This marks the initial $500 million upgrade $1.75 billion in notes GameStop announced Wednesday is available.
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Financing was conducted two weeks later in GameStop Announced purchase of 4,710 Bitcoin (BTC) On May 28, two months later, the company was worth approximately $513 million Confirm the plan to formulate a BTC treasury strategy March 2.
GameStop plans to spend $2.25 billion on “general corporate purposes, including investing in a manner consistent with GameStop’s investment policies,” which could indicate more Bitcoin investments from video game giants.
Video game retailer is already the world’s 11th largest company Bitcoin holder, behind it is Galaxy Digital Holdings. Bitbo Data display.
Strategy is the world’s largest corporate Bitcoin holder and has been using debt financing strategies to buy more Bitcoin. June 6, The strategy has been announced According to CoIntelegraph, stock sales were nearly $1 billion, triple the $250 million.
Related: “Apple should buy bitcoin,” Saller said.
GameStop Share 22%
Despite the potential for Bitcoin to strengthen the company’s balance sheet, GameStop shareholders seem to be upset about the pay raise.
GameStop shares fell 22% on Wednesday after initially announced a $1.75 billion round, Google Finance data showed.
GameStop’s share price has not risen since the company reported different earnings in the first quarter of 2025.
GameStop reported revenue for the first quarter of 2025 at $732.4 million, down 17% from analyst estimates of $754.2 million, compared with $881.8 million in the same period last year. IG Bank attributes it to a slowdown in body game sales.
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