GameStop has increased its offering of convertible senior notes to $2.25 billion, up from $1.75 billion, following a previous $1.5 billion raise in April. Despite holding steady on Friday, shares fell 24% this week, closing at $22.14, having traded at about $28.36 when they began purchasing Bitcoin in March. The convertible bonds will have no interest and a conversion price of approximately $28.91 per share, representing a 32.5% premium over the recent stock price. GameStop recently acquired 4,710 Bitcoin, but CEO Ryan Cohen stated that future purchases won't be disclosed in advance. Proceeds from the bond offering will fund general corporate purposes, including investments and potential acquisitions. GameStop's pivot towards trading cards, which comprise a significant part of its sales, indicates its shift in focus from video games and NFTs.

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