GameStop Corp. announced on March 27, 2025, the pricing of its $1.3 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2030. The notes were offered in a private placement to qualified institutional buyers.
The initial conversion rate for the notes is set at 33.4970 shares of Class A common stock per $1,000 principal amount, equivalent to an initial conversion price of approximately $29.85 per share. This represents a premium of approximately 37.5% over the volume-weighted average price of the common stock on March 27, 2025.
The company estimates net proceeds of approximately $1.28 billion, or up to $1.48 billion if the initial purchaser's option is fully exercised. These funds are designated for general corporate purposes, including the acquisition of Bitcoin, with the sale expected to close on April 1, 2025.
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