GameStop raises fundraising to $2,25 billion after stock plunge, expands focus on bitcoin

• GameStop expands private offering to $2,25 billion
• Company strengthens treasury policy with focus on bitcoin
• GME shares plunge after funding announcement

GameStop has increased its private offering of convertible senior notes to $2,25 billion, raising the initial offering by $500 million. The adjustment was announced after the market closes, with the issuance expected to be completed on June 17, 2025, subject to compliance with contractual milestones.

JUST IN: 🇺🇸GameStop upsizes offering to up to $2.68B — may use proceeds to buy more # Bitcoin under its treasury policy. pic.twitter.com/bEAjic22h6

— Crypto India (@CryptooIndia) June 13, 2025

The notes offered are unsecured, zero-coupon and convertible into GameStop shares under certain conditions. Investors will have the option to convert at preferred prices, in addition to protective clauses such as early repurchase in 2028 or in the event of significant events.

The company expects to raise around US$2,23 billion net from the transaction. If the over-allocation option of up to US$450 million is fully exercised, the proceeds could reach US$2,68 billion. The capital will be directed to general corporate objectives and possible acquisitions in line with the investment policy, which, since March, has considered bitcoin as a reserve asset.

The video game retailer, which has become a symbol of the meme stock movement, revealed in May that it owns 4.710 BTC — valued at approximately $495 million. In April, the company had already raised $1,5 billion through a similar issue, demonstrating progress in its strategy of diversifying cash with cryptocurrencies.

The announcement comes on the heels of disappointing financial results. In the first quarter, revenue fell 17% to $732,4 million, compared with $881,8 million in the same period a year earlier. News of the $1,75 billion initial public offering sparked a sharp market backlash, sending GME shares down 25% in a single day before closing down 22,5%.

Despite the fluctuations, the stock has accumulated an appreciation of more than 30% this year. The movement reflects, in part, the renewed interest of investors linked to the WallStreetBets forum and the figure of Keith “Roaring Kitty” Gill, who boosted the stock during the 2021 rally.

GameStop's strategy signals an attempt to reposition itself in the market based on fundraising and exposure to crypto assets such as bitcoin, while seeking alternatives to face the operational decline in the traditional retail sector.