GameStop Announces Proposed Private Offering of $1.3 Billion of Convertible Senior Notes

Core Viewpoint - GameStop Corp. plans to offer $1.3 billion of 0.00$200 million, aimed at qualified institutional buyers [1][2]. Group 1: Offering Details - The notes will be unsecured obligations, will not bear regular interest, and will mature on April 1, 2030, unless converted, redeemed, or repurchased earlier [2]. - Upon conversion, GameStop will have the option to pay in cash, shares of Class A common stock, or a combination of both [2]. - The initial conversion rate and other terms will be determined at the time of pricing, with the reference price based on the U.S. composite volume weighted average price of Class A common stock [2]. Group 2: Use of Proceeds - GameStop intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin [3]. Group 3: Company Overview - GameStop is a Fortune 500 company based in Grapevine, Texas, specializing in games and entertainment products through e-commerce and physical stores [6].