Video game retailer GameStop Corporation has completed a convertible debt offering, raising $1.5 billion. Part of the funds will be used to purchase Bitcoin.
It had initially planned to raise at least $1.3 billion, but the buyers opted to add an additional $200 million in aggregate principal amount of the notes, GameStop's April 1 SEC filing showed.
The company stated it plans to use the net proceeds for general corporate purposes, including the purchase of Bitcoin in accordance with its investment policy.
These convertible bonds, which can be converted into shares, mature on April 1, 2030, unless converted, redeemed or repurchased earlier.