GameStop Issues $1.75 Billion Convertible Note Offering, Expanding into Digital Assets

GameStop has issued a substantial convertible note worth $1.75 billion, signaling a significant shift in its investment strategy. This move integrates the potential for Bitcoin purchases alongside strategic investments. The company’s updated policy permits these moves, with GameStop citing broad purposes as drivers for utilizing this capital. 0% interest convertible senior notes were issued to fund this strategy. 80% of the funds are expected to be allocated towards strategic acquisitions such as Bitcoin in line with its new investment approach.