GameStop raises $1.5 billion convertible bonds to buy Bitcoin

PANews April 2, According to The Block, video game retailer GameStop announced on Tuesday that it would raise $1.5 billion through a private placement of convertible bonds and plans to use the proceeds to purchase Bitcoin. The company's filings with the Securities and Exchange Commission (SEC) show that it has completed the issuance of $1.5 billion in senior convertible bonds with a face rate of 0.00% maturity in 2030, including the underwriter's full exercise of $200 million over-allotment rights. This move is exactly the same as Strategy's strategy to turn to Bitcoin acquisitions in August 2020.