Quartz·1 min read·medium
GameStop is swapping $1.4 billion in convertible debt for stock, sending shares lower
✦AI Summary
GameStop is converting $1.4 billion of its outstanding debt into company stock to eliminate the debt without using cash. Following the announcement, the retailer's share price experienced a decline in premarket trading.
The video game retailer will cancel $1.4 billion in outstanding notes without using any cash, though shares fell in premarket trading
businesseconomy
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