GameStop has increased its offering of convertible senior notes to $2.25 billion from an initial $1.75 billion. This announcement came as GameStop's shares, which experienced a steep 24% decline during the week, were priced at $22.14 on Friday. The offering follows a previous $1.5 billion raise in April. The new batch of bonds will be interest-free with a conversion price set at approximately $28.91 per share, reflecting a premium over the company’s recent stock price. GameStop had recently purchased 4,710 Bitcoin, aligning with a broader strategy similar to that of other firms like MicroStrategy, which aim to enhance shareholder value through Bitcoin investments. Despite earlier interest in an NFT marketplace, which the company closed in early 2024, GameStop is shifting focus towards trading cards, which constituted a significant portion of their sales in the first quarter. Proceeds from the bond offering will be allocated to general corporate purposes, including potential acquisitions and investments under GameStop's Investment Policy.

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