GameStop, One of the Most Talked-About Companies in the US, Makes Another Move to Purchase a Massive Amount of Bitcoin

Gaming retailer GameStop (GME) has raised an additional $450 million through the additional sale of zero-coupon convertible senior notes, the company announced in a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday. This latest move follows last week’s $2.25 billion private bond issuance, bringing the total capital raised to $2.7 billion. The additional notes were sold upon the full exercise of a 13-day greenshoe option granted to the initial investor. The notes, due 2032, are convertible into GameStop Class A common shares at $28.91 per share, a 32.5 percent premium to the volume-weighted average of the shares at the time of the initial offering on June 12. Related News: Fearless Giant Whale James Wynn Couldn’t Resist: Revealed His New Bitcoin (BTC) Position and Expectations! GameStop said it will use the capital raised for general corporate purposes and in line with the company’s investment policy, which includes investing in digital assets like Bitcoin (BTC) as treasury reserves. The company joins the ranks of public companies adopting the practice of holding crypto reserves, following a similar path to the cryptocurrency strategy pursued by Strategy, led by Michael Saylor. GameStop implemented the strategy by purchasing 4,710 Bitcoins for about $500 million following its $1.3 billion bond offering in May. *This is not investment advice. Continue Reading: GameStop, One of the Most Talked-About Companies in the US, Makes Another Move to Purchase a Massive Amount of Bitcoin

Source: BitcoinSistemi