GameStop Corporation has successfully completed a convertible debt offering, raising $1.5 billion, part of which is designated for acquiring Bitcoin. The initial target was set at $1.3 billion, but the company attracted an additional $200 million in principal amount of notes according to an April 1 SEC filing. GameStop plans to allocate the net proceeds for general corporate purposes, including Bitcoin acquisition aligned with its Investment Policy. The convertible notes, which mature on April 1, 2030, can be converted into equity at a rate of 33 shares per $1,000 principal amount. Following the announcement, GameStop's share price saw minimal movement, closing on April 1 up 1.34% at $22.61, although it had experienced larger fluctuations earlier. The company’s announcement on March 25 confirmed its intentions to invest in Bitcoin as part of a broader strategy amid growing interest among public companies in cryptocurrency. GameStop's approach follows a wave of other firms incorporating Bitcoin into their reserves, reflecting a growing trend in the corporate landscape.

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