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GameStop Raises Rp28 Trillion to Increase Bitcoin Holdings

GameStop (GME) announced plans to issue bonds worth US$1.75 billion or around Rp28 trillion. The company stated that the funds will be used for general corporate purposes, including investments in accordance with their official policies. One form of investment is the purchase of digital assets such as Bitcoin (BTC).

“GameStop will allocate funds for investments that align with the company's investment policy,” the company's official statement said on Wednesday (11/06) local time.

Furthermore, this bond does not provide periodic interest and matures in 2032, unless converted, redeemed, or bought back earlier. GameStop has the right to pay in cash, common stock, or a combination of both when conversion occurs.

Additionally, the company gives early buyers the option to increase their bond purchase by up to US$250 million within 13 days after issuance.