GameStop raises another $450 million, which may be used to purchase BTC

PANews June 26 news, according to CoinDesk, game retailer GameStop disclosed in a document submitted to the US SEC on Tuesday that it raised another $450 million through convertible bond over-allotment rights, bringing its total bond issuance in mid-June to $2.7 billion. According to SEC documents, this batch of zero-interest bonds due in 2032 can be converted into common stock, and the conversion price is 32.5% higher than the weighted average price on June 12.

The funds will be used for company operations and asset allocation in line with investment policies, including continuing to increase holdings of Bitcoin as a reserve asset. Since launching its Bitcoin financial strategy in March, GameStop has spent approximately $500 million to purchase 4,710 Bitcoins in May.