GameStop Raises Planned Convertible Senior Notes Offering to $2.25 Billion
According to Jinse Finance, video game retailer GameStop (NYSE: GME) has announced that it has priced its private offering of $2.25 billion aggregate principal amount of 0.00% convertible senior notes due 2032. The company has also granted the initial purchasers an option to purchase up to an additional $450 million principal amount of notes within 13 days from the initial issuance date. After deducting related expenses, GameStop expects net proceeds from this offering to be approximately $2.23 billion, or about $2.68 billion if the initial purchasers exercise their option in full. The funds will be used for general corporate purposes, including investments and potential acquisitions.
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