GameStop to Raise 250 Billion Yen, Possibly for Bitcoin Purchases

On the 11th, major gaming retailer GameStop announced the issuance of zero-coupon convertible bonds worth $1.75 billion (approximately 250 billion yen), maturing in 2032. The company also plans to offer an additional $250 million in issuance options to initial purchasers, with the raised funds intended for corporate acquisitions and investments in line with its investment policy. In March of this year, GameStop updated its investment policy and added 4,710 BTC to its financial reserves by the end of May. While this fundraising does not specify the use of funds, it is anticipated that the funds could be used for general corporate purposes, including the purchase of Bitcoin (BTC). The company's first-quarter financial results showed a 17% decrease in revenue compared to the same period last year.