Gamestop (GME), the conflict video game retailer turned into MEME shares, an offer of convertible senior notes of $ 1.75 billion announced on Wednesday.
Income will be used at least in part to “make investments consistently with Gamestop’s investment policy,” according to a company’s press release. This investment policy is to add Bitcoin as a treasure reserve asset, according to a March statement from the company.
Today’s offer, only open to qualified institutional buyers, includes an option for buyers to buy additional $ 250 million in notes within two weeks after the initial broadcast. The notes have no regular interest and mature in June 2032 unless they become or recommended before.
After the March announcement of the Bitcoin Treasury strategy, Gamestop raised $ 1.3 billion through another offer of convertible notes. Subsequently, the company bought 4,710 bitcoin for approximately $ 500 million during May.
GME’s actions were lower by 10% in the negotiation after the hours.
