White & Case advises GameStop on its US$1.3 billion convertible notes offering

Global law firm White & Case LLP has advised GameStop Corp., a leading specialty retailer offering games and entertainment products through its ecommerce platforms and thousands of stores across multiple geographic segments, on its US$1.3 billion offering of 0.00% convertible senior notes due 2030.

The notes were sold in a private offering pursuant to Rule 144A under the Securities Act of 1933. GameStop expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with GameStop’s Investment Policy. GameStop also granted to the initial purchasers an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional US$200 million aggregate principal amount of notes. The sale is expected to close on April 1, 2025, subject to satisfaction of the conditions to closing.

White & Case also advised the company on its recent update to its Investment Policy to add Bitcoin as a treasury reserve asset.  

The White & Case team was led by Capital Markets partner Laura Katherine Mann (Houston) and M&A partner Richard Brand (New York), and included Financial Services Regulatory partner Prat Vallabhaneni (New York); M&A partner Erica Hogan (New York); Capital Markets partner Daniel Nussen (Los Angeles), and associates Melissa Curvino (New York), Steven Amrein, Brandon Wong and Daniel Quesenberry (all in Houston); and Tax partner Neil Clausen and associate Jessica Snowy Chen (both in Houston).

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