GameStop issues $1.75 billion in convertible bonds...Raises funds for Bitcoin purchases?
Summary
- GameStop announced that it will issue $1.75 billion in convertible bonds.
- The company stated that there's a high likelihood of initiating new strategies, including Bitcoin investments, with the proceeds.
- The company said the funds will be used for investments pursuant to investment policy and potential acquisitions.
GameStop has issued $1.75 billion worth of convertible bonds, drawing attention to the possibility of further Bitcoin (BTC) acquisitions.
On the 11th (local time), The Block reported, "GameStop is issuing $1.75 billion in convertible bonds. Early investors will be offered additional purchase options of up to $250 million," adding, "With this funding, there's a high likelihood that GameStop will accelerate new strategies, including investments in Bitcoin."
Earlier in March, GameStop revised its investment policy to include Bitcoin as part of its treasury reserves. The company stated that the funds would be used for "general corporate purposes, including investments pursuant to the investment policy and potential acquisitions."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
