GameStop plans $1.4 billion stock swap amid Bitcoin collateral concerns
Prefer us on GoogleGameStop will swap 1.4 billion dollars of zero-coupon convertible notes for stock, potentially retiring one-third of its note principal. The final shareholder dilution will be disclosed later. The filing covers 400 million dollars of notes due in 2030 and 1 billion dollars due in 2032, leaving 1.1 billion dollars of 2030 notes and 1.7 billion dollars of 2032 notes if the deal closes. The notes carry a 0% interest rate, meaning the exchange will not affect current cash interest expenses but will replace future repayment obligations with shares. A 35-day volume-weighted average price period began on August 3, 2026, to determine the share count for noteholders. GameStop expects the exchange to close around September 23, 2026, with the option for either side to terminate after September 30, 2026, if not completed. The company warned of potential volatility as noteholders may trade shares or adjust derivative positions before closing. As of May 2, GameStop had 7.4 billion dollars in cash and equivalents and 4.2 billion dollars in long-term debt. Most of its disclosed Bitcoin was pledged as collateral, with 4,709 of 4,710 BTC held through a receivable. The pledged Bitcoin was valued at approximately 300.65 million dollars based on an August 3, 2026 price of 63,846.52 dollars per BTC. Investors await the number of shares to be issued and the current amount of pledged Bitcoin.
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like
An IBM Researcher Anticipates Which Part of the Bitcoin Ecosystem Would Be Most Vulnerable
Shein Points to Save Dollars: The Guide to Accumulate Credits and Shop with Discounts
$4.5 Billion AI Fund Situational Awareness Faces Collapse, Investors Warned Founder About Leverage Risks
Oracle Cloud's AI Expansion Bets Raise Credit Risks, Ratings Near Junk Status
Who is Joyce Wong, Argentina's new auditor for the IMF accounts
US, UK deepen stablecoin talks after GENIUS Act
Poverty Decline Interrupted: Reached 30% of the Population, Adding 600,000 People
SpaceX taps NVIDIA for 1M-satellite AI plan
Warning about the increase: 26 people died in federal prisons during the first half of 2026
[New York Gold, Bonds, Dollar] Oil Prices Drop, Dollar and Interest Rates Fall... Gold Price Reaches $4,070 per Ounce
Itaú Reports R$ 12.4 Billion Profit in Q2 2026: What ROE Indicates
Self Custody Is Dead. Long Live Self Custody
What is PayFi and how stablecoins are replacing wire transfers
How crypto market makers work: the firms behind every trade you take
How meme coins are made: bonding curves, Pump.fun, and the math behind rug pulls
BCRA reserves rise to $49.642 billion, a new high in nearly seven years
José Pekerman confirmed he was tempted to coach Boca: "I listened but we didn't make progress"
Started Making Soccer Cleats for Women and Seeks to Establish Itself in a Space Neglected by Major Brands
Why AI is now a more immediate threat to Bitcoin than quantum computers
Wholesale Dollar Rises for Second Consecutive Session, But Remains Below $1.500
Bitcoin Under Audit: Is the Market Ignoring a New Risk?
Genesis Allocation Tax-Free, Airdrop Taxed: Tax Authority Sets Boundaries for Token Taxation
Gold Rises to $4,100: What’s Behind the Surge and Why It Matters
Open USD rattled Circle's stock, but its key backers still support USDC
Bitget Japan Exit 2026: Full Timeline, November 1 Close-Only and December 31 Forced Closure
Bitget announced on 3 August 2026 that it will stop serving residents of Japan, halting new registrations that day, switching affected accounts to Close-Only mode on 1 November 2026 at 11:00 GMT+9, and force-closing all remaining open positions on 31 December 2026 at 11:00 GMT+9. Crypto withdrawals are stated to remain available after that date, with no withdrawal deadline published.
Kalshi adds trade surveillance amid $36B lawsuit
Preparing for an Exam: How to Explain Cryptocurrency Purchases to the Tax Service
"We Will Go to Justice": Victims in Brazil Prepare a Massive Lawsuit Against Coinkite
Bitcoin Could Still Plunge to $40,000 According to Michael Terpin
Construction Costs Rise 77% in Dollars Since 2018, While Prices for Off-Plan Units Only Increased 5.4%
An IBM Researcher Anticipates Which Part of the Bitcoin Ecosystem Would Be Most Vulnerable
Shein Points to Save Dollars: The Guide to Accumulate Credits and Shop with Discounts
$4.5 Billion AI Fund Situational Awareness Faces Collapse, Investors Warned Founder About Leverage Risks
Oracle Cloud's AI Expansion Bets Raise Credit Risks, Ratings Near Junk Status
Who is Joyce Wong, Argentina's new auditor for the IMF accounts
US, UK deepen stablecoin talks after GENIUS Act
