Video game dealer Gamestop (GME) Raised another $ 450 million through a follow-up sale of zero coupon convertible seniorotates, the company revealed in a Tuesday that archived for SEC.
This came only a week after the retailer’s first private position of $ 2.25 billion, which brought the total fundraising to $ 2.7 billion from the offer, the company says.
The additional notes were sold under a 13 -day option, awarded to the original buyer who practiced the so -called “Greenshoe” setting fully. The notes that are due in 2032 can be converted to Gamestop Class A Common shares at a price of $ 28.91, which represents a 32.5% premium above the volume of the stock. June 12, the time of the original offer.
The capital will be used for general business purposes and “to make investments in a way that is in accordance with Gamestop’s investment policy,” which includes acquiring Bitcoin
As a treasury reserve.
Gamestop is one of the growing cads from listed companies to pursue a crypto state box strategy. They raise capital by selling shares and issuing debt to add cryptocurrencies such as BTC to their balance, mirroring the playbook to Michael Saylor’s strategy (Mstr). The company made its first acquisitions of Bitcoin in May and bought 4,710 coins for about $ 500 million following a convertible offer of $ 1.3 billion.
GME shares are flat in Wednesday morning us trade.
