TechFlow, June 12 — According to Businesswire, GameStop announced plans to conduct a private placement of $1.75 billion in aggregate principal amount of convertible senior notes due 2032 to qualified institutional investors. The company will also grant the initial purchasers an option to purchase up to an additional $250 million in notes within 13 days of the initial issuance.
The notes will constitute unsecured obligations of GameStop, will not bear interest, and will not accrue principal. Holders may elect to convert their notes into cash, shares of GameStop’s Class A common stock, or a combination of both. The company stated that proceeds from the offering will be used for general corporate purposes, including investments consistent with its investment policy and potential acquisitions.
