Video game retailer GameStop plans to raise $1.3 billion through Convertible Senior Notes to fund Bitcoin acquisitions.
The debt offering could go as high as $1.5 billion as the company plans to give the initial purchasers the option to purchase up to $200 million in extra notes.
GameStop intends to use the proceeds for general corporate purposes, including the acquisition of Bitcoin in line with its Investment Policy.
This move comes after GameStop's board approved adding Bitcoin to its investment policy, and CEO Ryan Cohen met with leading advocate for corporate Bitcoin adoption, Michael Saylor.