GameStop amends convertible notes exchange to include cash settlement
Approximately $358.4 million of the $1.4 billion note exchange will now be settled in cash rather than stock, fixing total share issuance at 55.5 million shares for noteholders.
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Video game and gaming merchandise retailer
gamestop.comLast updated
In short: GameStop reported record Q2 results, raised its 2026 EBITDA outlook, and advanced its proposed $125/share eBay acquisition.
Approximately $358.4 million of the $1.4 billion note exchange will now be settled in cash rather than stock, fixing total share issuance at 55.5 million shares for noteholders.
Net sales are projected at $780-800 million, while operating and net income rise to $150-170 million and $290-310 million respectively. Cash holdings total around $5 billion.
The exchange retires approximately $1.4 billion in long-term debt without cash usage and is expected to close around September 23, 2026.
It expects adjusted EBITDA over $600 million while advancing its proposed eBay acquisition.
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