GameStop plans to increase the size of convertible senior notes to 2.25 billion US dollars

According to Businesswire, video game retailer GameStop (NYSE: GME) announced that it has determined the price for its $2.25 billion principal issuance of convertible senior notes due in 2032, with a maturity of 0.00%, in a private placement. The company also grants the initial purchaser an option to purchase up to $450 million in principal notes within 13 days from the initial issuance date of the notes. After deducting related expenses, GameStop expects a net profit of approximately $2.23 billion from this issuance. If the initial buyers exercise their options, the net profit will be approximately $2.68 billion, and the funds will be used for general corporate purposes, including investments and potential acquisitions.