GameStop finishes $1.5B raise to add Bitcoin to its balance sheet 💰
GameStop Corporation raises $1.5 billion through a convertible debt offering, with plans to invest in Bitcoin. The company has obtained approval to use net proceeds for acquiring Bitcoin and stablecoins.
The convertible notes, due 2030, can be converted into equity. Following the offering, GameStop's share prices showed minor changes.
While GameStop's decision aligns with other public companies embracing Bitcoin, its financial health and business model continue to raise concerns among analysts and shareholders.
Previously, GameStop ventured into crypto wallets, shutting down its offering due to regulatory uncertainties.
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