GameStop Boosts Convertible Notes Offering to $2.25 Billion

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GameStop has increased its private offering of 0.00% convertible senior notes to $2.25 billion, up from the previously planned $1.75 billion. The notes are due on June 15, 2032. The company expects to raise around $2.23 billion in net proceeds, or up to $2.68 billion if the full overallotment option is exercised. GameStop plans to use the funds for general corporate purposes, which may include investments, business development, and potential acquisitions as it continues its transformation strategy.