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GameStop plans a private sale of 1.3 billion dollars in convertible preferred notes to purchase Bitcoin.
ChainCatcher news, GameStop announced plans for a private sale of a total issuance of $1.3 billion of 0.00% convertible senior notes (due 2030) to qualified institutional investors. Depending on market conditions, the company may also authorize the initial purchasers to purchase up to an additional $200 million in notes within 13 days. GameStop stated that the funds raised will be used for general corporate purposes, including purchasing Bitcoin in accordance with the company's investment policy.