GameStop Raises $450M More, Eyes $BTC Allocation in Treasury Strategy

On June 25, GameStop ($GME) disclosed in an SEC filing that it has raised an additional $450 million through a follow-on offering of zero-coupon convertible senior notes, bringing its total recent fundraising to $2.7 billion.

Key Highlights:

$450M raised via full exercise of a 13-day greenshoe option

Notes are convertible at $28.91/share, a 32.5% premium to the June 12 VWAP

Maturity: 2032

Use of Funds:

GameStop stated the proceeds will go toward general corporate purposes and potential investments, including allocating funds to $BTC as a treasury reserve asset — mirroring the crypto treasury strategy used by MicroStrategy ($MSTR).

In May, GameStop used part of a previous $1.3B convertible bond raise to buy 4,710 $BTC (~$500M) — now signaling continued confidence in crypto as a long-term store of value.