GameStop Corp. (GME): debt financing — GameStop raises $1.5B via zero-coupon convertible notes due 2030

GameStop Corp.

Net proceeds of $1.48B from $1.5B aggregate principal of 0.00% Convertible Senior Notes due 2030.
Initial conversion price ~$29.85/share, representing a 37.5% premium over VWAP on pricing date.
Notes unsecured, no regular interest; mature April 1, 2030; redeemable after April 6, 2028 if stock ≥130% of conversion price.
Proceeds to be used for general corporate purposes, including acquisition of Bitcoin per company's Investment Policy.
Holders may require repurchase on April 3, 2028 at 100% principal plus accrued interest.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GameStop Corp. incurred convertible notes of $1.5 billion aggregate principal amount with U.S. Bank Trust Company, National Association, as trustee at 0.00% maturing April 1, 2030.

Instrument: convertible notes
Principal: $1.5 billion aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association, as trustee
Rate: 0.00%
Maturity: April 1, 2030
Event: incurrence

Exact text from the filing

On April 1, 2025, GameStop Corp. (the “Company”) completed its previously announced private offering (the “Offering”) of $1.5 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2030 (the “Notes”), including the exercise in full of the initial purchaser’s option to purchase up to an additional $200 million aggregate principal amount of Notes.

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GameStop Corp. filing history →

Source: SEC EDGAR

accession 0001326380-25-000022

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