GameStop Corp. announced on June 12, 2025, the pricing of an upsized private offering of $2.25 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2032. The initial conversion rate is 34.5872 shares of Class A common stock per $1,000 principal amount, equivalent to an initial conversion price of approximately $28.91 per share.
This conversion price represents a premium of approximately 32.5% over the volume-weighted average price of the Class A common stock on June 12, 2025. The company estimates net proceeds of approximately $2.23 billion, or up to $2.68 billion if the initial purchaser's option is fully exercised.
The net proceeds are intended for general corporate purposes, including investments consistent with GameStop’s Investment Policy and potential acquisitions. The sale is expected to close on June 17, 2025, further bolstering the company's substantial cash reserves.
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