GameStop's $1.3 billion Bitcoin convertible bond conversion price is 35% premium to closing price

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According to CoinDesk, as reported by Foresight News, GameStop has priced a $1.3 billion convertible senior bond, which is planned to be used for increasing Bitcoin holdings. The bond will mature in 2030, with an initial conversion rate of 33.4970 shares per $1,000, corresponding to a conversion price of approximately $29.85, which is about 35% premium to Thursday's closing price of $22.09. If the issuance is successful, GameStop will become the fourth-largest listed company holding Bitcoin globally, behind Riot Platforms and ahead of Tesla.

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