Video game retailer gamestop (Gme) Raised an additional $ 450 million through a follow-on sale of zero-coupon convertible senior notes, the company was disclosed in a Filing of Tuesday In Sec.
It came just a week after an initial $ 2.25 billion retail placement, carrying a total fundraising at $ 2.7 billion from the offering, the company said.
Additional notes were sold under a 13-day option granted to the initial consumer, which used the so-called “Greenshoe” choice altogether. Notes, due to 2032, could convert to Gamestop Class A typically sharing at a price of $ 28.91, which represents a 32.5% premium on the volume of stock strength of June 12, the time of initial offering.
Capital will be used for general corporate purposes and “making investments in a manner consistent with Gamestop investment policy,” which includes getting bitcoin
as a reserve of treasury.
Gamestop is one of the growing cadres of companies that have exchanged publicly to pursue a crypto treasury approach. They raised capital by selling debt shares and discharge to add cryptocurrencies such as BTC to their balance sheets, reflecting Michael Saylor’s approach playbook playbook (Mstr). The company has made it Initial taking of Bitcoin in May, the purchase of 4,710 coins for nearly $ 500 million following a $ 1.3 billion of a changeable note offering.
GME’s sharing is flat on Wednesday morning with US trading.
