GameStop plans to issue $1.3 billion in convertible senior notes in a private placement to purchase Bitcoin

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According to ChainCatcher, GameStop announced plans to privately issue convertible preferred notes with a 0.00% interest rate (maturing in 2030) worth $1.3 billion to qualified institutional investors. Depending on market conditions, the company may authorize the initial purchasers to additionally purchase up to $200 million in notes within 13 days.

GameStop stated that the raised funds will be used for general corporate purposes, including purchasing Bitcoin in accordance with the company's investment policy.

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