GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

Video game retailer GameStop Corporation (GME) has finished a convertible debt offering that raised $1.5 billion, with some proceeds earmarked for buying Bitcoin.

The offering was initially set to raise at least $1.3 billion, but purchasers opted for an additional $200 million aggregate principal amount of notes, GameStop said in an April 1 filing with the Securities and Exchange Commission.

“The company expects to use the net proceeds from the offering for general corporate purposes,…