India, March 28 -- GameStop Corp.'s (GME) shares plunged around 22 percent on Thursday's regular trading on the NYSE after the company announced a $1.3 billion private offering, of which the proceeds will be used mainly for the acquisition of Bitcoin. The shares are currently gaining around 2 percent in the pre-market activity.
In a statement, the video game, consumer electronics, and gaming merchandise retailer announced the pricing of $1.3 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2030 in a private offering to institutional buyers.
The company also granted the initial purchaser of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issu...