GameStop amends convertible notes exchange, fixes equity issuance and settles USD 358.4 million in cash
GME•GME•GME•GME•Post-closing, about USD 2.8 billion of the notes will remain outstanding. Closing is targeted around Sept. 3, 2026.
GameStop amended its exchange agreements to swap about USD 1.4 billion of 0.00% Convertible Senior Notes due 2030 and 2032.
Settlement shifted from all-stock to a mix of fixed stock issuance and cash, ending the 35-day VWAP reference period early. Noteholders will receive about 55,500,000 Class A shares and cash of about USD 358.4 million, funded from cash on hand.
No additional shares will be issued for the exchange; remaining consideration was fixed using prices from the last trading day before the amendments.
