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GameStop Expands Convertible Notes Offering to $2.25 Billion Amid Strategic Shift
GameStop Expands Convertible Notes Offering to $2.25 Billion Amid Strategic Shift
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GameStop has upsized its private offering of 0.00% convertible senior notes to $2.25 billion, a significant increase from the initially proposed $1.75 billion. The notes, maturing in 2032, are expected to yield approximately $2.23 billion in net proceeds—potentially reaching $2.68 billion if the overallotment option is fully exercised.
Proceeds will fuel general corporate purposes, including potential acquisitions and business development initiatives. The MOVE underscores GameStop''s aggressive transformation strategy as it pivots beyond traditional retail operations.
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