GameStop (GME) has boosted its financial firepower for Bitcoin acquisition and corporate investments, raising an additional $450 million after underwriters exercised their greenshoe option from the company’s recent convertible debt offering. This brings the total proceeds from the mid-June zero-coupon convertible note sale to $2.7 billion, according to a recent SEC filing.
Breakdown of the Capital Raise
The initial private placement raised $2.25 billion, and the full greenshoe option — a 13-day provision allowing underwriters to buy more notes — added $450 million. The convertible senior notes, due in 2032, allow conversion to GameStop Class A shares at $28.91, representing a 32.5% premium over the stock’s average trading price at the time of the offering.
Bitcoin Treasury Strategy in Focus
GameStop disclosed that proceeds will be used for general corporate purposes, including investing in Bitcoin as a treasury reserve asset. This follows the company’s initial BTC purchase in May, where it acquired 4,710 BTC for roughly $500 million, soon after its $1.3 billion capital raise.
This move places GameStop among a growing list of publicly traded firms adopting Bitcoin as a strategic reserve, following in the footsteps of MicroStrategy and others that view BTC as a hedge against inflation and a non-sovereign store of value.
GameStop’s investment policy explicitly allows for Bitcoin allocation as part of its corporate treasury planning.
Strategic Shift Beyond Retail
Originally known for its brick-and-mortar video game retail operations, GameStop is reinventing its corporate identity. This bold Bitcoin strategy signals a move toward financial innovation and digital asset exposure, diverging from traditional business models in its sector.
Although GME shares remained flat in early Wednesday trading, the market continues to watch how this crypto-forward pivot impacts the company’s long-term valuation and strategic relevance.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.