GameStop has secured $2.7 billion through a combination of follow-on offerings and private placements, announcing plans to allocate Bitcoin as a treasury reserve asset.
The retail trading firm added $450 million from a convertible notes follow-on offering to an earlier $2.25 billion private placement. The newly issued convertible notes mature in 2032 and carry a $28.91 per share conversion price.
This fundraising marks GameStop’s latest strategic expansion into cryptocurrency holdings. The company intends to build Bitcoin reserves as a treasury asset, continuing its crypto-focused strategy.
GameStop previously acquired 4,710 bitcoins worth approximately $500 million following a $1.3 billion convertible bond transaction. The retailer joins publicly traded companies like MicroStrategy in leveraging capital markets to pursue digital asset acquisitions.