GameStop raises $450 million again, which may be used to purchase BTC

PANews June 26th news, according to CoinDesk, game retailer GameStop disclosed in a filing file with the US SEC on Tuesday that it raised $450 million again through the over-allotment of convertible bonds, bringing its total bond issuance in mid-June to $2.7 billion. According to the SEC document, this batch of zero-interest bonds due in 2032 can be converted into common stock, with a conversion price of 32.5% premium to the weighted average price on June 12.

The funds will be used for the company's operations and asset allocation in compliance with investment policies, including continuing to increase holdings of Bitcoin as reserve assets. Since GameStop launched its Bitcoin fiscal strategy in March, it has spent about US$500 million to purchase 4,710 Bitcoins in May.

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