GameStop Closes $1.5B Note Sale, Fueling Bitcoin Treasury Ambitions

GameStop (GME) has officially wrapped up its $1.5 billion convertible note offering, potentially setting the stage for its much-anticipated move into Bitcoin (BTC). The offering included the full exercise of a $200 million greenshoe option, with net proceeds of roughly $1.48 billion, the company disclosed in a Monday filing after U.S. market hours.

This fundraising round follows GameStop’s recent announcement that its board has approved a revised investment strategy allowing for Bitcoin acquisitions as part of its corporate treasury.

Led by CEO Ryan Cohen, the company has yet to confirm whether it has begun allocating funds toward BTC, but the financial runway is now firmly in place.

Shares of GME rose 1.35% during Monday’s session and gained an additional 0.8% in after-hours trading. Bitcoin continues to hold steady, last trading just under $85,000.