Summary
- GameStop announced that it has expanded the issuance of convertible notes to $2.25 billion.
- The raised funds are planned to be used for business restructuring, investment, and mergers & acquisitions (M&A).
- GameStop reported that it amended its investment policy this year to include Bitcoin in its financial reserve assets.
U.S. game retailer GameStop has increased its planned issuance of convertible notes by $500 million, raising the total to $2.25 billion.
According to cryptocurrency-focused media outlet Coinpedia on the 13th (local time), GameStop, following board approval, intends to issue $2.25 billion worth of convertible notes maturing on June 15, 2032.
The company expects to secure approximately $2.23 billion in net proceeds from this funding. The raised funds are planned to be used for future business restructuring, investment, and mergers & acquisitions (M&A).
In March, GameStop amended its investment policy to include Bitcoin in its financial reserve assets, subsequently disclosing details of related purchases.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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