GameStop, one of the most talked-about companies in the USA, has made another move to purchase a large amount of Bitcoin!

GameStop dealer announced in a notification dated Tuesday to the SEC that it raised an additional $450 million through the extra sale of zero-coupon convertible senior bonds, (GME).

This final step came after the $2.25 billion private bond issuance conducted last week, resulting in a total capital increase of $2.7 billion.

Additional bonds were sold through the full exercise of a 13-day “greenshoe” option granted to the initial investor. These bonds, maturing in 2032, can be converted into GameStop Class A common shares at a price of $28.91 per share. This price represents a 32.5% premium over the volume-weighted average of the shares during the initial offering on June 12.

GameStop stated that it will use the capital raised for general corporate purposes and in line with the company’s investment policy. Under this policy, investing in digital assets such as Bitcoin (BTC) as a treasury reserve is also included.

The company has adopted a path similar to the cryptocurrency strategy pursued by Strategy led by Michael Saylor, joining the ranks of publicly traded companies that hold cryptocurrency reserves. GameStop implemented this strategy by purchasing 4,710 Bitcoins for approximately $500 million following its $1.3 billion bond issuance in May.

*This is not investment advice.

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