GameStop exchanges $1.4B convertible notes for common stock, reducing debt by $1.4B

GameStop Corp.

Exchange of $400M of 0% 2030 notes and $1.0B of 0% 2032 notes for common stock.
No cash proceeds; debt reduced by $1.4B; remaining debt $1.1B (2030) and $1.7B (2032).
Closing expected on or about Sept 23, 2026; share count based on 35-day VWAP with floor.
Existing noteholders may hedge/unwind positions, potentially affecting stock price.
Common stock issued in private placement to accredited investors and QIBs.

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