GameStop jumps 12% after Bitcoin purchase plans announced
GameStop is looking to finance its Bitcoin strategy through a $1.3 billion offering of convertible senior notes.
GameStop shares jumped nearly 12% on March 26 after the company announced plans to purchase Bitcoin (BTC).
The company plans to finance the purchase through debt financing. After markets closed on March 26, GameStop announced a $1.3 billion convertible notes offering.
The convertible senior notes — debt that can later be converted into equity — will be used for general corporate purposes, including acquiring Bitcoin, according to a company statement.
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