GameStop raises $2.23B net from upsized $2.25B zero-coupon convertible note offering

GameStop Corp.

Completed $2.25B aggregate principal of 0.00% Convertible Senior Notes due 2032; net proceeds ~$2.23B after discounts and expenses.
Initial conversion price ~$28.91/share (32.5% premium to June 12 VWAP); conversion rate 34.5872 shares per $1,000 principal.
Notes mature June 15, 2032; no regular interest; redeemable after June 20, 2029 if stock price ≥130% of conversion price.
Holders may require repurchase on Dec 15, 2028 or upon fundamental change; initial purchaser option for additional $450M.
Proceeds for general corporate purposes, investments per Investment Policy, and potential acquisitions.

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