GameStop's $1.3 billion Bitcoin convertible bond conversion price is 35% premium to closing price

03/28 08:23

Wechat scan to share

GameStop has priced $1.3 billion in convertible senior notes, which are planned to be used to increase its Bitcoin holdings. The notes will mature in 2030, with an initial conversion rate of 33.4970 shares per $1,000, corresponding to a conversion price of approximately $29.85, a premium of about 35% over Thursday's closing price of $22.09. If the issuance is successful, GameStop will become the fourth largest publicly traded company holding Bitcoin globally, behind only Riot Platforms, and surpassing Tesla.

Comments

All Comments

Recommended for you

CointimeSG · 03/28 06:07

Rethinking Ownership, Stablecoins, and Tokenization from First Principles

The current narrative is that tokenization will solve many financial problems, which may or may not be true.
CointimeSG · 03/28 06:05

The second wave of stablecoins is coming: 5 new common sense we need to know

Stablecoins are tokens whose prices are anchored to legal tender (basically the US dollar). Their essence is a set of standardized smart contracts. Stablecoins are not legal tender, let alone CBDC (central digital currency).
Paul Brody · 03/28 05:07

Bear markets are temporary — airdrops are forever

Despite bear markets, airdrops have quietly distributed $49 billion to Web3 communities over four years, creating lasting value through community-driven ecosystems.
BRAYDEN LINDREA · 03/28 05:04

Crypto.com probe by the SEC has officially closed, says CEO

The US securities regulator closed its probe into Crypto.com seven months after serving the crypto platform with a Wells notice in August.
Stephen Wolfram · 03/28 05:00

Darkweb actors claim to have over 100K of Gemini, Binance user info

Binance told Cointelegraph the data is not the result of a leak from the exchange but instead is a result of the hacker collecting data using malware on infected computers.
Krisztian Sandor · 03/28 03:35

Sei Foundation Explores Buying 23andMe to Put Genetic Data on Blockchain

If the acquisition proceeds, the foundation plans to integrate 23andMe's data onto its blockchain and give users ownership of their genetic data.
Shaurya Malwa · 03/28 03:32

Studio Ghibli Craze Inspires Memecoins on Ethereum, Solana After OpenAI’s 4o Release

The internet is full of people converting images to AI-generated pictures in the characteristic style of some animated movies by Japan’s Studio Ghibli. Memecoin traders are looking to cash in on the trend.
cointelegraph · 03/28 00:11

SEC has officially closed its investigation into Crypto.com, CEO says

The US securities regulator closed its probe into Crypto.com seven months after serving the crypto platform with a Wells notice in August.
Cheyenne Ligon · 03/27 13:07

Trump SEC Pick Paul Atkins’ Crypto Ties Draw Sen. Warren’s Ire Ahead of Confirmation Hearing

In a recent financial disclosure, Atkins admitted to owning up to $6 million in crypto-related assets.
Danny Nelson · 03/27 06:47

GameStop Bitcoin Pivot Spurs Social Media Chatter as Stock Soars 16%

The gaming retailer will spend some of its $4.8 billion cash holdings to buy bitcoin and stablecoins, sparking discussions around how much it will actually buy.