GameStop prices upsized private offering of $2.25B senior notes

GameStop (NYSE:GME) priced its upsized $2.25B aggregate principal amount of 0.00% convertible senior notes due 2032 in a private offering to qualified institutional buyers.
Initial purchaser of the notes an option to purchase up to an additional $450M notes.
The sale of the notes is expected to close on June 17, 2025.
The notes will be general unsecured obligations of GameStop, will not bear regular interest and the principal amount of the notes will not accrete.
The notes will mature on June 15, 2032
Net proceeds will be ~$2.23B (or ~$2.68B if the initial purchaser exercises its option).
Net proceeds will be used for general corporate purposes, including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions.
The stock traded 1.1% higher on Thursday during after-market hours of trading.

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