Retail Giant Announces $1.3 Billion Bond Sale to Fuel Bitcoin Investment and Global Expansion

Wednesday 26th of March 2025 21:30:56

GameStop Unveils $1.3 Billion Notes Offering to Fund Bitcoin Acquisition, Corporate Expansion

GameStop, a leading video game retailer, has announced a $1.3 billion notes offering to fund its acquisition of a majority stake in a bitcoin mining company, as well as support corporate expansion initiatives.

The notes offering, which is expected to close on or around March 25, will consist of $1.3 billion principal amount of 4.375% senior unsecured notes due 2028. The notes will bear interest at a rate of 4.375% per annum and will mature on March 15, 2028.

The funds raised from the notes offering will be used to finance GameStop's acquisition of a majority stake in Bitcoin Block, a US-based bitcoin mining company. The acquisition is expected to enhance GameStop's presence in the growing digital asset market and provide a new revenue stream for the company.

In addition to funding the Bitcoin Block acquisition, the notes offering will also support GameStop's corporate expansion initiatives, including the development of new e-commerce capabilities, the enhancement of its loyalty program, and the expansion of its store base.

"We are excited to announce this notes offering, which will provide us with the necessary capital to execute our strategic initiatives and drive long-term growth," said GameStop CEO, Matt Samura. "Our acquisition of Bitcoin Block will not only expand our presence in the digital asset market but also provide a new revenue stream for the company."

The notes offering is expected to be priced on March 24, and the notes are expected to be listed on the New York Stock Exchange (NYSE) on March 25.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and Deutsche Bank Securities Inc. are acting as joint bookrunners for the notes offering. J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, and BMO Capital Markets Corp. are acting as co-managers. Ellenoff, Wolff, Poff, & Lowen, LLP is acting as counsel to GameStop. Davis Polk & Wardwell LLP is acting as counsel to the underwriters.