GAMESTOP (GME), the besieged video game retailer that has become the same stock, announced on Wednesday an offer of convertible notes of $ 1.75 billion.
The product will be used at least in part to “make investments in a manner in accordance with Gamescop’s investment policy”, according to a press release from the company. This investment policy is to add Bitcoin as a Treasury reserve asset, according to a mail press release from the company.
Today’s offer, only open to qualified institutional buyers, includes an option for buyers to buy additional $ 250 million in tickets within two weeks of the initial issue. Tickets have no regular interest and mature in June 2032 unless they were converted or bought earlier.
After the March announcement of the Bitcoin Treasury strategy, GameStop raised $ 1.3 billion thanks to another convertible ticket offer. The company subsequently bought 4,710 bitcoin for around $ 500 million in May.
GME shares were 10% lower in the afternoon.
