BREAKING NEWS: The Amount GameStop Will Allocate to Buy Bitcoin Has Been Announced!

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According to breaking news, GameStop (GME) has proposed a $1.3 billion private offering of convertible senior notes to fund general corporate purposes, including Bitcoin purchases.

The five-year convertible notes will be issued with a 0% coupon rate, according to a press release. In addition, the offering includes an underwriter greenshoe option for up to $200 million that could further increase the total amount raised.

“GameStop expects to use the net proceeds from the offering for general corporate purposes, including the purchase of Bitcoin in a manner consistent with GameStop’s Investment Policy,” the company said.

The announcement had an immediate impact on GameStop’s stock price, with shares rising 11.7% in today’s regular trading session but falling 7% in after-hours trading following the news.

*This is not investment advice.

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