04:49 PM EDT, 03/26/2025 (MT Newswires) -- GameStop ( GME ) plans a private offering of $1.3 billion in convertible senior notes due 2030 to qualified institutional buyers.

Initial purchasers in the offering will have a 13-day option to buy up to an additional $200 million in notes, the company said Wednesday in a statement.

"The notes will be general unsecured obligations of GameStop ( GME ), will not bear regular interest and the principal amount of the notes will not accrete," according to the statement.

Upon conversion, GameStop ( GME ) will pay or deliver cash, Class A common stock or a combination of cash and stock at its election, according to the statement.

Proceeds from the offering will be used for general corporate purposes, including bitcoin acquisition, the company said.

GameStop ( GME ) shares fell 6.9% in recent after-hours trading after gaining 12% in the regular session.