GameStop raises $450 million in new funding, totaling $2.7 billion, to invest in bitcoin

From Yahoo Finance: 2025-06-25 10:20:00

GameStop raised an additional $450 million through the sale of zero-coupon convertible senior notes. This follows a $2.25 billion private placement, bringing total fundraising to $2.7 billion. The notes can convert into GameStop Class A common shares at a 32.5% premium.

The capital will be used for general corporate purposes and investing in assets like bitcoin. GameStop joins other publicly traded firms in pursuing a crypto treasury strategy. They made initial bitcoin acquisitions in May after a $1.3 billion convertible note offering.

GME shares are flat in Wednesday morning U.S. trading.

Read more: GameStop Has Another $2.7B in Bitcoin Buying Power After $450M Greenshoe Exercise