TechFlow news, April 2 — According to CoinDesk, game retailer GameStop has completed its issuance of convertible bonds. The full amount of its $1.3 billion five-year convertible notes has been subscribed, with total proceeds reaching $1.5 billion including the overallotment option, resulting in net proceeds of $1.48 billion after expenses.
Last week, during the release of its fourth-quarter earnings, GameStop CEO Ryan Cohen announced that the board had approved an update to the company's investment policy, planning to add Bitcoin to its balance sheet. Proceeds from this financing are expected to be partially used for Bitcoin purchases.
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