GameStop Prices Upsized $2.25 Bln Convertible Senior Notes Offering

(RTTNews) - GameStop Corp. (GME) announced the pricing of its upsized $2.25 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2032 in a private offering.

GameStop also granted the initial purchaser of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $450 million aggregate principal amount of notes. The sale of the notes is expected to close on June 17, 2025, subject to customary closing conditions.

The notes will be general unsecured obligations of GameStop, will not bear regular interest and the principal amount of the notes will not accrete. The notes will mature on June 15, 2032, unless earlier converted, redeemed or repurchased.

GameStop estimates that the net proceeds from the offering will be approximately $2.23 billion (or approximately $2.68 billion if the initial purchaser exercises its option to purchase additional notes in full), after deducting the initial purchaser's discount and commissions and estimated offering expenses payable by GameStop.

GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions.