GameStop Shares Plunge As $1.4 Billion Debt-For-Equity Swap Threatens Dilution

GameStop Shares Plunge As $1.4 Billion Debt-For-Equity Swap Threatens Dilution GameStop shares fell in premarket trading after the company announced it had agreed to exchange about $1.4 billion of zero-coupon convertible notes for Class A shares, allowing the video game retailer to reduce long-term debt without using cash. The press release stated that the transactions were privately negotiated and cover $400 million of notes due in 2030 and $1 billion due in 2032. After the ca...

By Tyler Durden